Axis REIT’s 9M dividend increases 13% to 15.6 sen per unit

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KUALA LUMPUR (Oct 20):  Axis Real Estate Investment Trust (Axis REIT) announced that its dividends for the nine-month ended Sept 30, 2014 has amounted to 15.6 sen per unit, which is 13% higher compared to the same period last year.

The dividends include 100% of the distributable gain of RM10.95 million from the disposal of Axis Plaza, which was completed on March 25, 2014.

According to the Axis REIT, a total of RM49.02 million was paid out for the first six months ended June 30, 2014, as the current year’s first and second interim income distribution each of which translated to 5.3 sen per unit respectively.

The Axis REIT said it has further set aside RM23.19 million or 5 sen per unit as third interim dividend income distribution, payable on Nov 28, 2014. The amount is approximately 99.6% derived from its realised income available for distribution generated from operations for the third quarter, and from the balance of gain on the disposal of Axis Plaza.

The total of 15.6 sen dividend per unit, paid out for the first three quarters in 2014, is the highest on record.

The Axis REIT is set to add four new assets by year- end 2014 amounting to RM434 million, which will increase its asset size to just over RM2 billion.

Axis REIT closed 2 sen higher at RM3.65 today, with a market capitalisation of RM1.69 billion.