Al Mal Capital REIT (the Fund), the first real estate investment trust listed on the Dubai Financial Market, regulated by the Securities and Commodities Authority (SCA) and managed by Al Mal Capital, a subsidiary of Dubai Investments, has announced an interim dividend distribution for the six months ending June 30, 2024, amounting to AED 15,416,697, compared to AED 12,252,240 for the six months ending December 31, 2023.
The fund stated in a statement yesterday that the distribution of interim dividends of three fils per unit, which was distributed to the enhanced capital through a rights issue in April 2024, represents the first distribution to current and new unit holders after the completion of the rights issue in April 2024.
He said that the income resulting from the acquisition of Carnation Education by the end of June 2024 will benefit the fund starting from the second half of this year, noting that it will pay interim dividends to unit holders on the due date of August 22, 2024.
Al Mal Capital REIT achieved strong financial performance during the first half of this year, as the fund’s balance sheet exceeded AED 1 billion as of June 30, 2024, and the value of investment properties amounted to AED 989 million, compared to AED 578 million as of December 31, 2023.
“Despite the continued rise in global interest rates, Al Mal Capital REIT continues its impressive track record of distributing dividends,” said Nasser Al Nabulsi, Vice Chairman and CEO of Al Mal Capital.
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