Al Rajhi Capital Announces distribution of cash dividend to the unit-holders of Al Rajhi REIT Fund for the period 1st July 2019 to 31st December 2019
Al Rajhi Capital announces the distribution of cash dividend to the unit-holders of Al Rajhi REIT Fund for the period 1st July 2019 to 31th December 2019 as per following:
- Total amount of dividend distribution = SAR 33,989,939.97
- No. of Eligible Units = 161,856,857
- Dividend per Unit = SAR 0.21; dividend represents 2.1% of the Par value
- Dividend represents 2.11% of Net Asset Value (based on Fair Value as of 05/05/1441H corresponding to 31/12/2019)
- Eligibility of dividends shall be for unit-holders in the register per Tadawul records as of 19/06/1441H corresponding to Thursday, 13/02/2020 (end of trading day on 17/06/1441H corresponding to Tuesday 11/02/2020)
- Dividends will be paid within 15 business days post the eligibility date.
The Fund Manager wishes to remind the unit holders to update their bank accounts to ensure depositing the outstanding dividend to their accounts directly.
The dividend is affected by a). partial income of the 4 newly acquired properties as part of asset increase process, which were acquired on 7th November 2019, 24th December 2019 and 25th December 2019 and b).
The provisions taken in H2 2019 for overdue rents filed as legal cases to the extent of SAR 3.9 Mn
The dividend distribution for the second half of 2019 is not reflective of full annualized income of these newly acquired properties on the larger unit holder base due to issuance of new units during asset increase process.
(H1 2019 no. of units: 122,200,609 and H2 2019 no. of units: 161,856,857)
The full income potential of the newly acquired properties, combined with further stabilization of portfolio properties, should be reflected during the first half of 2020
