CREIT recently released its 1H2022 financial results and it paid out 107% of its distributable income as dividends. While REITs are required to pay out at least 90%, how can CREIT pay out much more than its income?
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Post-Covid, it will just be a matter of time before our large mall developers fold them into REITs. We have plenty of potential properties: SM Prime has 86, Robinsons with 58 and Ayala has 27 shopping malls. We also have midsize chains like CityMall and the Gaisano group.
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In his recent state of the nation address (SONA), President Marcos pushed for the passage of PIFITA into law. Among its provision is the imposition of a single rate of 15% tax (generally) on interest income, dividends and capital gains.
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It was interesting to hear David’s thoughts on the Philippine real estate outlook, including REITs.
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Last March, the Philippine Stock Exchange created the PSE Dividend Yield Index. A group of 20 listed companies with consistently high dividend yields, a large free float, and sound financials.
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