FRIDAY, March 29, 2024
nationthailand

SHREIT to pay dividends to shareholders based on Q2/19 results

SHREIT to pay dividends to shareholders based on Q2/19 results

The Strategic Hospitality Extendable Freehold and Leasehold Real Estate Investment Trust (SHREIT) has announced revenue of Bt201.76 million and a net profit of Bt81.33 million for the first half of this year, as well as a distribution payment based on Q2/2019 performance to SHREIT shareholders of Bt0.19 per share, according to Patan Somburanasin, managing director of Strategic Property Investors (SPI), an independent professional REIT management firm, and the manager of SHREIT.

Current SHREIT assets include IBIS Saigon South Hotel and Capri by Fraser Hotel in Ho Chi Minh City in Vietnam where RevPAR (revenue per available room) growth has been sustained and is considerably higher than during the same period of the previous year. At the same time, the assets in Indonesia following the presidential election and the quick improvement in the political situation have resulted in a rapid recovery, and the year-end performance is expected to meet the target.
The Board of Directors has therefore approved the distribution payment as realised from the second quarter of this year to shareholders at the rate of Bt0.19 per share with the posting of XD mark on August 30 and payment to be made on September 20. Combined with the distribution from the first quarter of this year of Bt0.19 per share, the total distribution of the SHREIT for the first half of this year paid to shareholders will be Bt0.38 per share.
“The trend for the second half of the year from SHREIT investment in is expected to show good growth both in Vietnam and Indonesia, especially Indonesia that has been promoted in the S&P rating from BBB- to BBB reflecting the trust among international investors who want to invest in this country.”
In addition, the SHREIT is in the midst of considering additional investment in the ASEAN region especially in countries that can produce high return on investment. Acquisition of new assets is expected to be concluded soon.

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