Zimpapers Logo

Business Reporter

PROPERTY company, Tigere Real Estate Investment Trust (REIT), which started trading on the Zimbabwe Stock Exchange on 1 December 2022 has declared its first dividend of US$152, 577.

In a statement, the firm said the performance of the asset for the period was in line with expectations and both assets will reach 100 percent occupancy levels within the first quarter.

“Tigere is a recently listed REIT on the Zimbabwe Stock Exchange. In line with guidance issued in pre-listing documentation, notice is hereby given that REIT has declared its maiden interim dividend of US$152,577 (being 0,021 United States cents per share) as well as an additional ZWL75,816,772 (being 10,54 Zimbabwe cents per unit) in respect of the period ended 31 December 2022,” reads part of the statement.

The dividend is payable on or about 24 February to all shareholders registered at the close of business on 17 February, said the company.

REITs are investment securities that enable the issuer to pool investors’ funds for the purpose of investing in real estate.

In exchange, the investors receive units in the trust and as beneficiaries of the trust share profits from the real estate assets.