Jadwa Investment Company decided to distribute cash dividends of 28.44 million riyals to the unit holders of the Jadwa REIT Saudi Fund for the third quarter of 2020.
According to Arabiya Net, the company said in a statement that profits will be distributed on the basis of 158 million existing units, so that the value of the distributed profit per unit is 0.18 riyals, representing 1.80% From the initial unit price, or 1.61% of NAV, as of June 30, 2020.
Jadwa added that the eligibility of cash dividends will be for unit owners, according to the register of unit owners at the end of Tuesday, November 10 (the end of the trading day on November 8). / p>
Jadwa Investment clarified that the dividends will be paid within 20 working days from the due date.
The quarterly results of Jadwa REIT Saudi Fund showed that rental income increased by 6%, to reach 35.3 million riyals during the third quarter of 2020, compared to 33.4 million riyals in Similar quarter last year.
While operating expenses stabilized during the third quarter of this year at 4 million riyals compared to the comparative quarter of 2019.
and the Fund expected rents to decline within 4% of total annual rents, equivalent to approximately 5 million riyals for the year 2020, coinciding with the fund's receipt at the end of July Past requests to reduce rent temporarily from some tenants of their commercial real estate.
A new lease agreement has been signed for the commercial exhibitions of the Aber Al-Yasmine Hotel property, bringing the occupancy rate to 100%.
