CREIT posts record-high annual dividends, surpassing market expectations

Citicore Energy REIT Corporation (CREIT) announced its highest annual dividend payout since its 2022 market debut, delivering a total of %u20B11.32 billion in dividends for 2024.

In a disclosure to the Philippine Stock Exchange, CREIT reported that its fourth-quarter dividend amounted to %u20B1360 million, or %u20B10.055 per share, higher than the %u20B10.054 per share dividend declared in the same period last year.

This dividend includes both regular payouts from guaranteed base lease revenues and special dividends from variable lease revenues. The variable lease revenues, totaling %u20B150 million, marked a 48 percent increase from the previous year, driven by higher-than-expected generation and stronger contract renewals from lessees.

For the entire year, the company’s declared dividends equate to %u20B10.202 per share, representing an annualized yield of 6.43 percent based on CREIT’s March 24 closing price of %u20B13.14.

“On its third year of operations, CREIT is proud to declare its highest quarterly dividend to-date,” said CREIT President and CEO Oliver Y. Tan. “We remain committed to providing investors with a sustainable and attractive dividend-paying investment as we continue to grow the company’s green asset portfolio, mirroring the growth of our sponsor, Citicore Renewables.”

Dividends for the fourth quarter, declared on March 25, 2025, will be payable on May 21, 2025, to shareholders on record as of April 24, 2025.

CREIT’s sponsor, Citicore Renewable Energy Corporation (CREC), is on track with its ambitious goal of reaching 5 gigawatts of renewable energy capacity within five years, with the first gigawatt targeted for completion in 2025. CREIT’s 7.1 million square meters of green assets, supported by a 100 percent occupancy rate and a weighted average lease expiry of 20.69 years, continues to position the company as a reliable dividend performer in the Philippine REIT market.