MREIT Inc. recorded profit of P2 billion in 2021 inclusive of a fair value gain on investment properties worth P702.0 million.
The real estate investment trust (REIT) of Megaworld Corp. started operations only mid-2021.
Revenues for the same period stood at P1.5 billion. Fourth quarter revenues grew 5 percent quarter-on-quarter to P749.5 million, due to a similar growth in rental income resulting from the implementation of new leases as well as the initial contribution of four properties that the company acquired last December, MREIT said.
The company’s board declared dividends amounting to P0.24 per share for the fourth quarter of 2021 on March 4, 2022. This compares favorably to the dividends declared by the company for the previous quarter of P0.24 per share, which included a bonus dividend equivalent of P0.05 for income generated by the company in June when it started operations.
MREIT said it has paid a total dividends of P0.48 per share last year.
“As of the close of trading last week, MREIT’s total shareholder return since initial public offering stood at 25 percent. The dividends shall be payable on March 31, 2022 to shareholders on record as of March 18, 2022,” it added.
