Filinvest REIT declares low Q1 dividend
Filinvest REIT [FILRT 4.25 2.9%; 241% avgVol] [link] declared a Q1/23 cash dividend of P0.071/share, payable on June 30 to shareholders of record as of June 15.
The dividend implies an annualized yield of 6.68% based on the previous closing price. The total amount of the dividend is P347 million, sourced from distributable income generated up to April 30, which is 100% of the P347 million in distributable income that FILRT reported for the period.
Relative to FILRT's IPO price, the dividend increased FILRT's total stock and dividend return to -28.29%, up from its pre-dividend total return of -29.3%. FILRT did not specify if this dividend represents just the first quarter of FILRT’s distributable income, or if it is intended to represent the first four months as the cut-off date would imply.
MB BOTTOM-LINE
“When someone shows you who they are, believe them.” When is the market going to listen to what FILRT has been screaming for months? This dividend matches FILRT’s all-time low, confirms that the tiny Q4/22 dividend was not a mistake or fluke, and yet the market trades FILRT like it’s the twin brother of AREIT. Quarter-on-quarter, the dividend is the same. It matches the low. But this dividend is 39% lower from a year-on-year perspective.
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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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