VistaREIT [VREIT 1.65 3.1%; 68% avgVol] [link] declared a Q1/23 dividend of P0.0392/share, payable on June 16 to shareholders of record as of May 31. The dividend is 1.6% larger q/q, and has an annualized yield of 9.5% based on the previous closing price, up from the previous pre-dividend annualized yield of 9.36%.
The total amount of the dividend, P294 million, is 100% of VREIT’s Q1 distributable income. Relative to VREIT's IPO price, the dividend increased VREIT's total stock and dividend return to 2.86%, up from its pre-dividend total return of 0.62%.
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It’s notable that VREIT is one of only four REITs that has never declared a “down” dividend (the others being AREIT [AREIT 34.40 0.7%; 102% avgVol], RL Commercial REIT [RCR 5.83 1.2%; 46% avgVol], and Citicore Energy REIT [CREIT 7.00; 117% avgVol]).
This is the third consecutive increase building off of that first dividend back in Q2/22.
VREIT is essentially tied with PREIT [PREIT 1.53 0.7%; 14% avgVol] for the highest annualized yield on the PSE, though PREIT is only one of two REITs that have yet to declare Q1 dividends (the other is DDMP [DDMPR 1.30 0.8%; 44% avgVol]).
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