Citicore Energy REIT announces Q4 dividend of P0.055 per share

By Manila Standard Business – March 25, 2025, 8:15 pm

Citicore Energy REIT Corp. (CREIT) said Tuesday it will pay a fourth-quarter dividend of P0.055 per share, up from P0.054 a year earlier.

The dividend, payable on May 21 to shareholders of record on April 24, comprises a regular dividend from guaranteed base lease revenues and a special dividend from variable lease revenues for the year.

CREIT’s variable lease revenues rose 48 percent to P50 million for the year, driven by higher-than-expected generation by its lessees and increased contract renewal rates.

The company declared total dividends of P0.202 per share for 2024, its largest annual payout since listing on the Philippine Stock Exchange in 2022. This represents an annualized yield of 6.43 percent, based on the March 24 closing price of P3.14.

“On its third year of operations, CREIT is proud to declare its highest quarterly dividend to date,” said CREIT president and chief executive Oliver Tan in a statement.

“We remain committed to provide investors with a sustainable and attractive dividend-paying investment as we continue to grow the company’s green asset portfolio, mirroring the growth of its sponsor, Citicore Renewables as it continues to embark on its 5GW in 5-year journey,” said Tan.

CREIT’s parent company, Citicore Renewable Energy Corp., aims to energize 1 gigawatt (GW) of its 5 GW target by 2025.

CREIT’s portfolio includes 7.1 million square meters of landholdings with 100-percent occupancy and a weighted average lease expiry of 20.69 years.