Emirates Reit proposes Dh44m dividend for 2014

Nasdaq Dubai-listed Emirates Reit, a Shariah-compliant real estate investment trust, today announced its proposal to pay an interim dividend of $11.98 million (Dh44m) or $0.04 per share for 2014.

It said those shareholders will be eligible for the dividend whose names will appear on the register at 2pm on the January 21, 2015.

This is the first dividend payment for 2014, as Emirates Reit intends to distribute a dividend to its shareholders twice a year. It aims to distribute second dividend in June 2015.

The proposed interim dividend will be subject to shareholder approval at its upcoming general meeting on January 26, 2015.

Sylvain Vieujot, Executive Deputy Chairman of the Reit Manager, said: “Since the Reit became a publicly-listed entity in April 2014, we have been delivering strong results and seeing healthy growth across our property portfolio. We continue to follow a disciplined, methodical acquisition strategy by targeting prime assets in strategic locations across Dubai, and as a result, we have achieved continuous growth in our portfolio’s net assets value. We remain committed to distributing dividends twice a year.”

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