Al Mal Capital REIT (AMCREIT), the first REIT listed on DFM, announced AED20.55 million as the final dividend for the financial year 2024.
The company has earlier announced a dividend of AED1.54 million for six months ended June 30 2024.
AMCREIT, a subsidiary of Dubai Investments, said the final dividend of AED4.00 fils per unit is on the enhanced unitholders’ capital of AED513.89 million raised through a rights issue in April 2024.
The increased dividend payment follows the company reporting a strong financial performance for the year ended December 31, 2024.
It also comes in the wake of the company completing the acquisition of Carnation Education LLC (Carnation) – the owner of Kent College Dubai – to further strengthen its growing portfolio in the mandated sector of education.
Naser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital PSC, said the final dividend distribution of AED4 fils per unit reiterates the company’s commitment to deliver the target annualised yield of 7 per cent for 2024.
“AMCREIT believes in sustainable value creation to its unitholders,” he said.
Al Nabulsi said the year witnessed key successes, including the enhancement of the capital base with new investor participation and the acquisition of another K-12 school, taking the overall assets to five school campuses.
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