Areit, Inc. Approves the Declaration of Cash Dividends from Second-Quarter Operations, Payable on September 13, 2023
August 14, 2023 at 03:34 am EDT
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AREIT, Inc. approved the declaration of PHP 0.53/share in cash dividends from second-quarter operations, a 2% increase from the previous quarter. The dividends are payable on September 13, 2023 to stockholders on record as of August 30, 2023. This declaration brings the total dividends to PHP 1.05/share for the first half of 2023, 8% higher year-on-year.
AREIT, Inc. is a Philippines-based real estate investment trust (REIT). The Company is engaged in the business of commercial leasing of retail and office spaces. The Company owns and invests in commercial portfolio of office, retail, and hotel properties in the Philippines. The Company caters to retail and office tenants. Its investment properties are composed of approximately seven stand-alone buildings, three mixed-used properties, approximately nine condominium office units, and four land parcels. The Company's investment properties are located across various cities in the Philippines, which include Makati City, Cebu City, Bacolod City, Quezon City, Ayala Avenue, Gil Puyat Avenue and Muntinlupa City. AREIT Fund Managers, Inc. is the fund manager.