The
This announcement was made by Managing Director and CEO of
"Between 2022 and 2023, SFS REIT experienced a remarkable 70 per cent growth in net income. Concurrently, dividend payouts also surged by 71.60 per cent," Ilodianya stated.
He emphasised that despite facing challenging market conditions, SFS REIT has consistently delivered robust performance since its inception.
Ilodianya highlighted that the proposed N14.50 per share dividend would mark a historic high for the fund.
According to him, "an investor who purchased SFS REIT shares at N77 on
"The dividend payout translates to an 18.83% return on the initial share price, culminating in an estimated total return of over 50% annually."
Ilodianya stressed that the current dividend payout is not only unprecedented but also a sign of continued strong performance, with no decline anticipated in the near future. "We foresee SFS REIT continuing to deliver higher dividends moving forward," he added.
He also noted that the SFS REIT has maintained an "A" credit rating from an
The SFS REIT strategically invests in multiple units within organised and efficiently managed residential estates along the expanding Lekki corridor. Notable investments include
Ilodianya reaffirmed the
This announcement underscored the SFS REIT's impressive growth trajectory and its commitment to delivering value to its shareholders.
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