DUBAI - ENBD REIT, the Shari’a compliant real estate investment trust managed by Emirates NBD Asset Management Limited, proposed a final dividend of US$5,100,000 or $0.0204 per share for the six-month period ending 31 March 2020.
In a statement by the ENBD, as at 31st March 2020, ENBD REIT's Net Asset Value, NAV, was $230 million and the total value of its property portfolio was US$410 million.
Also, portfolio occupancy recorded 82%, despite difficult market conditions Meanwhile, in an effort to add value to shareholders, the fund manager has proposed a fee reduction of 20 basis points, which equates to a 13 percent reduction in total management fees -capped at 25 percent on previous year’s fee - for six months effective until 31st December 2020.
ENBD REIT’s Board and committees have also approved a 13 percent discount on remuneration for the same period.
© Copyright Emirates News Agency (WAM) 2020.
