Saudi's Derayah Financial announces $5.8mln cash dividend

Reward to benefit unit holders of Derayah REIT

  
A Saudi trader casts a shadow as he monitors stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

A Saudi trader casts a shadow as he monitors stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.

REUTERS/Ahmed Yosri

Derayah Financial has announced a cash dividend distribution worth nearly 22 million Saudi riyals ( $5.8 million).

The third-quarter payout will benefit the unit holders of the Derayah REIT fund, the Saudi Arabia-based investment solutions company said in bourse filing on Thursday.

“The entitlement of cash distribution at the closing of trading on (October 10, 2020) shall be for the unit holders registered,” the company said.

The cash dividend, which represents 2.21 percent of the net asset value, will be distributed to more than 107 million units.

Derayah REIT is a Shariah-compliant closed-ended real estate investment traded fund. It seeks to generate income to the investors’ capital through investing in income-generating real estate assets.

(Writing by Cleofe Maceda; editing by Mily Chakrabarty)

Cleofe.maceda@refinitiv.com

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© ZAWYA 2020

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