Musharka REIT announces dividend distribution of SAR30.8mn, offering 7.3% dividend yield
Musharka REIT has announced the distribution of a SAR30.8mn cash dividend (SAR0.35/unit) for the six-month period since the fund commenced operations on 17 Aug 2017 up until 17 Feb 2018. Annualising the DPS implies a dividend yield of 7.3%. Ex-dividend date is set on 28 Feb, while disbursement date is expected be announced later. This payment represents 3.5% of NAV, as of end of Feb 2018, according to management, which implies NAV of SAR880mn (SAR10/unit), and P/NAV of 0.96x.
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