Derayah REIT Fund’s board of directors has approved increasing the frequency of dividend distribution to four times a year, or once every quarter, Derayah Capital, the fund manager said in a statement.
The fund’s original policy stipulates the payment of semiannual cash dividend representing 90 percent of net profit.
The REIT will distribute the first dividend this year on May 1, as most properties have been vacated during the last two months after rent collection, the statement added.
Derayah REIT’s units will begin trading on Tadawul on Monday, March 26.
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Cash Dividend Details |
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Distribution Date |
Eligibility Date |
Profit period |
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May 1 |
March 31 |
From Jan. 1 to March 31 |
|
August 1 |
June 30 |
From April 1 to June 30 |
|
November 1 |
September 30 |
From July 1 to Sept. 30 |
|
February 1 |
December 31 |
From Oct. 1 to Dec. 31 |
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