That 12% dividend increase compared to 2021 happens to be higher than the inflation rate. So AREIT investors have not lost their purchasing power if you only consider the dividend income. These are real returns on your money.

As a long term income investor, I consider dividend per share (DPS) growth as one of the most important metrics in a REIT – far more than stock price appreciation or the dividend yield.

I have attached their press release below. Its worth noting that their growth target remains to be 100,000 sqm of GLA every year for the next 3 years and total shareholder return (stock price plus dividends) of 10-12% yearly.