Areit Inc., the real estate investment trust (REIT) of Ayala Land Inc., said its net income rose 64 percent to P1.62 billion in the first half from last year’s P1.31 billion. Know more:
Areit Inc., the real estate investment trust of Ayala Land Inc., said its net income rose 64 percent to P1.62 billion in the first half from last year’s P1.31 billion.
The company also approved the declaration of P0.49 per share in cash dividends from operations in the second quarter, following the P0.48 per share in the first quarter of the year. This declaration brings the total dividends to P0.97 per share for the first half of 2022, 10 percent higher year-on-year.
“It is looking forward to securing regulatory approvals for this second property-for-share swap with its sponsor Ayala Land Inc. within the year,” the company said. This month, Areit will mark its second anniversary as the first Philippine REIT since its listing on the Philippine Stock Exchange on August 13, 2020.
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