DDMP declares smaller Q4 dividend
DDMP [DDMPR 6.60; 300% avgVol] [link] declared a Q4/22 dividend of P0.0226599, payable on May 31 to shareholders of record as of May 5.
The dividend has an annualized yield of 6.76% based on the previous closing price, which is 17% smaller than DDMPR's pre-dividend annualized yield of 8.14%.
Relative to DDMPR's IPO price, the dividend increased DDMPR's total stock and dividend return to -30.25%, up from its pre-dividend total return of -31.26%.
MB BOTTOM-LINE
And then there were two; only the Villar-owned REITs, VREIT and PREIT have yet to declare and schedule payment of their respective Q4 dividends. While DDMPR has now declared, shareholders are not going to be excited by that smaller dividend.
It breaks DDMPR’s streak of 6 consecutive quarterly dividends of at least P0.027/share. Is this just a momentary misstep, or a sign of things to come?
DDMPR and DD have been frustratingly quiet about what’s in store for the REIT since the news broke a while back that Jollibee [JFC 217.00 1.2%; 64% avgVol] and DD would be working together on the country’s first industrial REIT, focused on warehouses and logistics.
But it’s not like we’ve heard very much about that plan, either.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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