Union Homes REIT proposes final dividend of N465.03m

By Kayode Tokede

The Board of Directors of Union Homes Real Estate Investment Trust Plc (REIT)  has proposed a final distribution of N1.86 for every  unit held, amounting to a total of N465.03 million for the year ended 2020.

This is according to a disclosure made available on the website of the Nigerian Stock Exchange (NSE),

According to the notice, the proposed dividend will be paid electronically to qualified unit holders on the 4th of May, 2021. Qualified shareholders are those, whose names appear in the Register of member as at the close of business on 14th of April, 2021. Other qualifying conditions are;

Unit holders must have mandated the Registrar (Greenwich Registrars and Data Solutions Limited) to pay their distribution directly into their bank accounts.

On the other hand, the firm disclosed that there is no proposed bonus for the aforementioned period.

Union Homes REIT is an actively-managed, close-ended Unit Trust Scheme geared towards achieving long-term capital appreciation through real estate investments such as rental properties, mortgage assets etc..

The firm had earlier posted a profit after tax of N389.7 million in FY 2020.

The qualification date is 14th of April, hence Register of unit holders will be closed from 15th to 16th of April, 2021.