MREIT Inc., the real estate investment trust of Megaworld Corp., said last Monday its net income more than doubled in the nine months of the year through September to P1.99 billion from last year’s P807.39 million. Know more:
MREIT Inc., the real estate investment trust of Megaworld Corp., said last Monday its net income more than doubled in the nine months of the year through September to P1.99 billion from last year’s P807.39 million.
“Our offices remain steadfast with above-industry occupancy rates and improving revenues even as we navigate through a challenging environment, proving once again the quality of our portfolio and tenants,” Kevin L. Tan, president and CEO of MREIT said. “We work double time to continue our promise of delivering consistent and attractive returns to our shareholders.”
MREIT’s board a approved the declaration of dividends amounting to P0.2444 per share for the third quarter of 2022. Total dividends per share for the first nine months of the year stands at P0.7342. This brings the company’s annualized dividend yield to 8.2 percent as of MREIT’s closing share price of P11.96 per share on November 11.
Moving forward, the company will continue to work towards providing long-term attractive returns for its shareholders from a combination of organic growth and new acquisitions.
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