For the first quarter of 2026, Citicore Energy REIT Corp. (“CREIT” or the “Company”), the country’s first and largest renewable energy REIT, posted revenues of Php 458 million, underscoring the stability of its long‑term renewable energy asset portfolio.
EBITDA was recorded at Php 446 million, while net income for the period reached Php 342 million.
“CREIT continues to demonstrate what a stable, yet growth-oriented REIT can look like,” said CREIT President and CEO Oliver Tan. “Our revenues are highly predictable backed by fixed long‑term leases tied to our green asset portfolio, insulated from geopolitical issues due to the tenants’ essential business of power generation using renewable energy.”
CREIT also maintained its 100% year-round occupancy rate across its assets and has a weighted average lease expiry of 19.19 years, providing shareholders with stable operations and sustainable income visibility.
On Friday, May 15, 2026, CREIT declared cash dividends for the first quarter of 2026 amounting to Php 0.049 per share, equivalent to a dividend yield of 6% based on the closing price of Php 3.40 per share on March 31, 2026. This provides shareholders a payout ratio of 106% of distributable income, exceeding the minimum regulatory requirement of at least 90% distributable income. Dividend payments are scheduled on July 8, 2026 for stockholders on record as of June 11, 2026.
Asset‑for‑Share Swap
As part of its growth roadmap, CREIT’s Board of Directors approved on May 15, 2026, a proposed asset‑for‑share swap transaction with its Sponsor, Citicore Renewable Energy Corporation (CREC) and its subsidiaries.
The proposed transaction is expected to infuse approximately 1.7 million square meters of land and 860MWp of solar assets in Pangasinan, Pampanga, Batangas, Quezon, and Negros Occidental.
This strategic infusion will enable CREIT to expand beyond its current portfolio by about 20% new leasable land assets, as well as stabilized, income-generating solar assets.
Upon completion, CREIT’s total gross leasable area is expected to expand to 8.8 million square meters, further solidifying its position as the largest REIT in the Philippines.
To safeguard shareholder interests, the assets have undergone independent valuation by reputable and accredited third-party providers, ensuring the deal will be executed at fair market value and on an arm’s length basis.
“This transaction reflects how CREIT’s platform is built for long-term growth, allowing us to acquire stabilized, income-generating assets while deepening strategic alignment with our Sponsor,” Tan said. “It reinforces CREIT’s ability to expand alongside CREC in a disciplined and sustainable manner, creating long-lasting value for shareholders.”
The transaction is targeted for execution within the coming months of 2026, subject to customary closing conditions, finalization of terms, and relevant regulatory approvals in compliance with the requirements of the Securities and Exchange Commission and the Philippine Stock Exchange.
Additional details will be disclosed once final agreements are completed.
CREIT’s sponsor, CREC, will continue to expand its renewable energy development roadmap to around 3.4 gigawatts by the end of 2026, in line with its “5 gigawatts in 5 years” target. CREC’s growing portfolio of projects is expected to provide CREIT with a robust pipeline of potential asset acquisitions, alongside increasing lease revenues from operating projects.
