Citicore Energy REIT Corp.’s (CREIT or the “Company”) declared today dividends amounting to Php 0.051/share. This consists of regular dividends coming from CREIT’s guaranteed base lease revenues from Q4 2022 and special dividends from variable lease revenues for the year, amounting to Php 0.044/share and Php 0.007/share, respectively.

The Company’s variable lease revenues amounted to Php 43.9 million for the year, representing CREIT’s 50% share in the excess revenues earned by its Lessees over base revenues. This was driven by the combined overperformance of actual versus base generation, which forms part of CREIT’s guaranteed base lease, as well as higher electricity prices during the year.

For the entire year of 2022, CREIT has declared a total dividend of P0.183/share, representing a 7.44% yield based on March 21 closing price of Php 2.46.

“As the Company completes one year operating as a full-fledged REIT company, we stay on course with our objective to provide investors with sustainable and attractive dividend-paying REIT instrument, complemented with shared prosperity from its variable lease revenue. Additionally, the REIT Sponsor, Citicore Renewable Energy Corporation (CREC), is committed to pursue its 5GW pipeline project growth roadmap that will serve as potential assets for future CREIT infusion,” said President and Chief Executive Officer Oliver Y. Tan.

CREIT’s unique green asset portfolio, with total landholdings of almost 2,000,000 square meters and backed by 100% occupancy all year-round, has allowed the Company to declare above-prescribed and steady dividends during the year.

For its guaranteed base lease, CREIT has consistently paid out 107% of its distributable income in 2022, more than the mandatory 90% requirement under the REIT Law. As a result, CREIT became a constituent of the PSE Dividend Yield Index (PSE DivY Index) beginning February 6, 2023. The index was launched in 2022 to focus on investment securities that consistently give high-yielding dividends.