REIT declares second quarter dividend

LISTED Real Estate Investment Trust (REIT), Tigere Property Fund, has declared its second quarter dividend of US$ 255 202 in line with its Listing Prospectus.

The REIT, which was listed on the Zimbabwe Stock Exchange on 30 November 2022, will pay a dividend consisting of US$ 218 087, being 0,03 United States cents per unit as well as an additional $167 651 585, being 23,30 Zimbabwe cents per unit in respect of the quarter ended 30 June 2023.

“Notice is hereby given that the REIT has declared its quarterly dividend of US$ 255 202 made up of US$ 218 087 as well as an additional $167 651 585 in respect of the period ended 30 June 2023.

“The dividend will be payable on or about the 31st of August 2023 to all unit holders of the company registered at the close of business on 25th of August 2023” reads part of the statement.

Under the dividend, all unity holders registered under the company will be traded cum dividends and have to close their business on 25 August.

Meanwhile, on its half-year financial highlight for the period that ended 30 June 2023, Tigere said the rental revenue was US$790,523, net property income was US$861,949 and the total income was US$862,636

The REIT also said the total operating expenses were US$244,448, total comprehensive income was US$567,392, and net asset value was US$22,53m.