Emirates Reit proposes $0.05 dividend

Emirates Reit, the Shariah-compliant regulated real estate investment trust listed on Nasdaq Dubai, has proposed to pay a total final dividend of $14.98 million, or $0.05 per ordinary share, to the shareholders for the year ended on December 31, 2013.

The company said in a press statement that those shareholders would be eligible for the dividend who would be registered on the June 18, 2014.

The proposed final dividend will be subject to shareholder approval at the Reit’s Annual General Meeting on June 22, 2014.

The company said Emirates Reit aims to distribute dividend to shareholders twice a year in future: an interim dividend in January and a final dividend in June.

Sylvain Vieujot, Deputy Chairman of the Reit Manager, said: “In 2013 we focused on growing our portfolio of properties across different sectors as per our defined strategy. The successes we achieved last year were topped by our listing last month and we are delighted to propose our first dividend since our IPO. We are always looking to maximise value to our shareholders who should expect us to pay dividends twice a year, with the next distribution being in the first quarter of 2015.”