Union Homes REIT proposes 75k dividend

Feyisayo Popoola

Union Homes Real Estate Investment Trust Plc has proposed a dividend of N0.75 for the period ended December 31, 2017.

The firm, which invests in rental properties, mortgage assets and money market instruments, in a memo of dividend announcement sent to the Nigerian Stock Exchange, stated that there was no proposed bonus.

The memo read in part, “The closure of the register period is September 5, 2018, while the dividend will be paid on September 21, 2018.”

The firm said it invested in real estate through properties or mortgages by combining the capital of many investors to provide financing for real estate investments, allowing individual investors to invest in a professionally managed diversified portfolio of real estate and related real estate assets.

It added that it paid annual dividend of 90 per cent of its annual returns from all investments.

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