FILRT core net income hits P1.3 billion in 2023

Business.
Business.(Business File photo)

THE board of directors of Filinvest REIT Corp. (FILRT), in a meeting held on Feb. 26, 2024, approved the dividend declaration to all stockholders amounting to P0.067 per outstanding common share.

The cash dividends will be payable on March 26, 2024, to stockholders on record as of March 11.

This first quarterly cash dividend declaration for the year translates to an annualized yield of 8.3 percent based on the previous trading day’s closing price of P3.23 per share.

Based on unaudited financial statements, FILRT recorded a net income of P1.05 billion in 2023.

Excluding the net fair value change in investment properties, FILRT posted a net income of P1.28 billion on the back of rental and other revenues of P3 billion.

FILRT ended 2023 with an average occupancy of 83 percent, which is better than market occupancy of 81 percent as reported by Colliers in its fourth quarter 2023 Office market report.

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