Citicore Energy REIT Corp. on Friday declared dividends amounting to P0.049 per share, representing income from its guaranteed lease revenues for the first quarter of 2025, backed by lease contracts from its 14 assets.
CREIT said in a disclosure to the Philippine Stock Exchange the P0.049/share – consistent with the same period last year—equates to an annualized yield of 6.2 percent, based on the March 31 closing price of P3.16.
“CREIT’s third year as the leading renewable energy REIT showcases the consistency of our green business model, which translates positively to our shareholders through stable and long-term leases and consistent dividends,” said CREIT president and chief executive Oliver Tan.
The company’s land parcels totaling 7.1 million square meters solidifies CREIT’s position as the largest landlord for renewable energy real estate properties in the Philippines.
CREIT’s parent firm, Citicore Renewable Energy Corp. (CREC), has over 5 gigawatts of project pipeline in varying stages of development, with the construction of its first gigawatt in full speed.
“Looking ahead, the growth trajectory of CREIT will mirror its sponsor CREC, providing visibility on asset infusion opportunities, further strengthening leasable income from our lessees and ultimately deliver sustainable returns for our investors,” Tan said.
CREIT said its unique green asset portfolio is backed by 100-percent occupancy and an above industry weighted average lease expiry (WALE) of 20.19 years – allowing the company to consistently declare above-prescribed dividends since its listing in the Philippine Stock Exchange in February 2022.
CREIT is the Philippines’ first renewable energy real estate investment trust and largest renewable energy landlord, listed in the Philippine Stock Exchange since February 2022.
