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ENBD REIT announces first dividend payment

ENBD REIT (CEIC) Limited, the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March

Tariq Bin Hendi, director, ENBD REIT.
Tariq Bin Hendi, director, ENBD REIT.

ENBD REIT (CEIC) Limited, the Nasdaq Dubai-listed Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management, has announced its first dividend payment since listing on Nasdaq Dubai in March.

Shareholders must own shares in ENBD REIT before market close on 2 July 2017 to be entitled to claim a dividend. The dividend record date will be 5th July 2017.

The dividend payment represents an annualized dividend yield of 7.13%, based on ENBD REIT’s closing share price of $1.08 on 21 June, 2017 and an annualised dividend yield on net asset value (“NAV”) per share of 6.60% on the current NAV as at 31 March, 2017.

The REIT will pay an interim dividend of $9,713,207, or $0.0382 per share. ENBD REIT will continue to distribute dividends to shareholders on a half-yearly basis.

Tariq Bin Hendi, director, ENBD REIT, said: “In the period since listing, our management team have worked hard to deploy the capital raised by the transaction.

“We have already announced one successful acquisition, which has diversified our holdings into alternative asset classes, and we have a strong pipeline of further acquisitions, which we intend to be announcing soon. We look forward to continuing to deliver strong returns to our shareholders.”

In March 2017, the Company successfully raised $105m when it listed on Nasdaq Dubai. The REIT’s predecessor fund, Emirates Real Estate Fund (“EREF”) consistently paid a semi-annual dividend since inception in 2005.

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