@Pinky, Current 71% occupancy rate is due to Pandemic and it’s the lowest occupancy. With market reopening, the occupancy highly will improve rather than drop further. Plus, management indicated thus year rental will positively revise. So, 5 cents or increase of 25% rental income is likely achievable.Furthermore, even if the rental increase is not achieve. Current 4 cents or 6.6% yields is relatively high for existing market
definitely. IGBB cashflows are very strong, dividends from IGB REIT and IGBCR are more than 20 sen per share. Wait till it carries out the proposed corporate exercises then it will be able to pare down borrowings and raise dividend payouts
Entitlement subject Income Distribution Entitlement description 1.75 sen per unit comprising 1.69 sen taxable and 0.06 sen non-taxable for the period from 1 July 2023 to 31 December 2023 Ex-Date 15 Feb 2024
Pursuant to the Bursa Malaysia Securities Berhad's letters dated 7 May 2021 and 16 July 2021 respectively in relation to the Approved Manager's Units and the Approved Public Spread, 8,419,338 new units of IGBCR to be issued to IGB REIT Management Sdn Bhd, the Manager of IGBCR as payment of management fees, as detailed below:
Period Management Fees Issue Price per unit# Units to be issued 1 October 2023 to 31 December 2023 ("4Q23")
Base Fee @ 0.3% per annum (“p.a.”) of Total Asset Value (excluding cash and cash balances which are held in non-interest bearing accounts)
RM2,507,496 RM0.493 5,086,198 Performance Fee @ 5% p.a. of Net Property Income RM1,643,238 RM0.493 3,333,140 Total RM4,150,734 8,419,338
last two quarters Q1 & Q2 '24, DPS 1.93c > EPS 1.5c, this is not Sustainable ? - estimate FY24 => EPS 3c, 90% => DPS 2.7c, at price 0.485, DY at 5.5% only
Yup, the DPS is not sustainable. Management are taking share unit instead of cash for their fees. Good thing is higher DY we saw. Bad thing is it will diluted our share holding.
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Posted by Pinky > 2022-03-01 16:25 | Report Abuse
Do u guys think HLB's assumption of 5 sen gross dividend p.a. achievable?