ENBD REIT announces first dividend payment of $0.0382 per share

Dubai:

ENBD REIT, the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, announced its first dividend payment since listing on Nasdaq Dubai in March. The REIT will pay an interim dividend of $9.7 million (Dh35.63 million), or $0.0382 per share.

Shareholders must own shares in ENBD REIT before market close on 2nd July 2017 to be entitled to claim a dividend. The dividend record date will be July 5, it said in a statement.

The dividend payment represents an annualised dividend yield of 7.13 per cent, based on ENBD REIT’s closing share price of $1.08 on June 21 and an annualised dividend yield on net asset value per share of 6.60 per cent on the current NAV as at March 31.

“We have already announced one successful acquisition, which has diversified our holdings into alternative asset classes, and we have a strong pipeline of further acquisitions, which we intend to be announcing soon. We look forward to continuing to deliver strong returns to our shareholders,” Tariq Bin Hendi, Director, ENBD REIT, said in a statement.