SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • UPDC REIT distributes N1.4bn to unit holders as interim dividend
  • Capital Market News
  • UPDC REIT distributes N1.4bn to unit holders as interim dividend
 

UPDC REIT distributes N1.4bn to unit holders as interim dividend

UPDC REIT distributes N1.4bn to unit holders as interim dividend

by magna / Tuesday, 18 November 2014 / Published in Capital Market News

UPDC Real Estate Investment Trusts (REIT) has announced the distribution of N1.4bn to unit holders as interim dividend for the period ended June 30, 2014.

The interim distribution of 56 kobo will be made to the unit holders who are on the Register of the UPDC REIT on November 20, 2014, while the payment will be made on December 4, 2014.

According to FSDH Asset Management Limited, fund managers, this represents 90 percent of the distributable income for the period ended June 30, 2014. The full year audit of the UPDC REIT has commenced and the final dividend for the year ending December 31, 2014 will be paid as soon as the Securities and Exchange Commission (SEC) approves the audited accounts.

This implies that the unit holders of the UPDC REIT should expect to receive additional income on their investment early in 2015, Olumayowa Ogunwemimo, managing director, FSDH Assets Management, has said.

She explained in an interview that a Real Estate Investment Trust pools funds together from many investors in order to purchase real estate assets and/or real estate related instruments, which have the ability to generate income. There are three types of REITs – Equity REIT, Mortgage REIT and Hybrid REIT.

An Equity REIT invests only in income generating real estate properties, while a Mortgage REIT invests only in mortgages (i.e. loans that have been granted for the acquisition/construction of buildings). A Hybrid REIT invests in a combination of both income generating properties and mortgages.

Although REITS are not common in Nigeria, investors are gradually becoming aware of the benefits of investing in a REIT and have taken advantage of the opportunities provided by the UPDC REIT.

The benefits include providing stable and regular income to investors, as REITs typically pay out 90 percent of the total income realised on an annual basis, allow investors to be beneficial owners of real estate assets, without having to make huge capital investments, as is typical of direct investment in real estate, among others.

“The UPDC REIT is a unique investment because it allows its investors to benefit from the returns earned on choice real estate properties, such as the VMP 1 & 2 Located in VI, Abebe Courts Ikoyi, as well as other commercial properties in Abuja and Aba,” she said.

 

Source : BusinessDay

About magna

What you can read next

NAPE urges FG to invest in refineries to mitigate price shock
Market Extra: The ‘most-hated stock rally’ could be primed for a May correction
The Wall Street Journal: Hellish opening weekend for Tom Hanks’ ‘Inferno’

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP