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ENBD REIT Announces First Dividend Payment of USD 0.0382 per Share
 
  • Annualised equivalent dividend yield is 7.1% 
  • Dividends will be paid to shareholders on 12th July 2017 

Dubai, United Arab Emirates, 22 June 2017: ENBD REIT (CEIC) Limited (“ENBD REIT” or the “REIT”), the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March. The REIT will pay an interim dividend of USD 9,713,207, or USD 0.0382 per share. Shareholders must own shares in ENBD REIT before market close on 2nd July 2017 to be entitled to claim a dividend. The dividend record date will be 5th July 2017. 

The dividend payment represents an annualized dividend yield of 7.13%, based on ENBD REIT’s closing share price of USD 1.08 on 21 June 2017 and an annualized dividend yield on net asset value (“NAV”) per share of 6.60% on the current NAV as at 31st March 2017. It is the intention of ENBD REIT to continue to distribute dividends to shareholders on a half-yearly basis. 

Tariq Bin Hendi, Director, ENBD REIT, said:

“The Board of Directors is pleased to announce ENBD REIT’s first dividend payment since the successful listing of our ordinary shares on Nasdaq Dubai in March. In the period since listing, our management team have worked hard to deploy the capital raised by the transaction. We have already announced one successful acquisition, which has diversified our holdings into alternative asset classes, and we have a strong pipeline of further acquisitions, which we intend to be announcing soon. We look forward to continuing to deliver strong returns to our shareholders.”

ENBD REIT is a leading Shari’a compliant Real Estate Investment Trust, invested in properties across Dubai’s office, residential, and alternative real estate asset classes. In March 2017, the Company successfully raised USD 105 million when it listed on Nasdaq Dubai. The REIT’s predecessor fund, Emirates Real Estate Fund (“EREF”) consistently paid a semi-annual dividend since inception in 2005. 

Posted by : Dubai PR Network Editorial Team
Viewed 9943 times
PR Category : Banking & Investments
Posted on : Thursday, June 22, 2017  4:55:00 PM UAE local time (GMT+4)
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