Property • Created May 11, 2015 04:00

UPDC REIT holders get N2.3bn

This distribution was approved by unit holders at the 1st Annual General meeting of the REIT which held in Lagos.The Managing Director of FSDH Management Director, Mrs Olumayowa Ogunwemimo explained at the meeting that the REIT is mandated to distribute 90 percent of its received income to unit-holders.She said the sum of N2.33 billion represents […]

UPDC REIT holders get N2.3bn
UPDC REIT holders get N2.3bn

This distribution was approved by unit holders at the 1st Annual General meeting of the REIT which held in Lagos.
The Managing Director of FSDH Management Director, Mrs Olumayowa Ogunwemimo explained at the meeting that the REIT is mandated to distribute 90 percent of its received income to unit-holders.
She said the sum of N2.33 billion represents 90 percent of the distributable income for the period ended December 31, 2014.
She mentioned that unit holders should always expect an annual distribution from the REIT as the properties in the REIT remain quality real estate assets, with high occupancy rate and good rental yield.

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