Embassy Office Parks REIT distributes Rs 531.67 crore in Q4
Embassy Office Park REIT, the country's first Real Estate Investment Trust (REIT) has distribued Rs 531.67 crore for its unit holders for the quarter ended March. "Declared distribution of Rs 5,316.77 million/Rs 6.89 per unit for the quarter ended March 31, 2020," the company said in a statement.
Published -
May 22, 2020 6:02 AM
Embassy Office Park REIT, the country's first Real Estate Investment Trust (REIT) has distribued Rs 531.67 crore for its unit holders for the quarter ended March. "Declared distribution of Rs 5,316.77 million/Rs 6.89 per unit for the quarter ended March 31, 2020," the company said in a statement. The distribution comprises of Rs 2.49 per unit in the form of interest, less taxes if any, Rs 4.17 per unit in the form of proceeds of Asset SPV loan amortisation and Rs 0.23 per unit in the form of dividend. The record date for the 4Q FY2020 distribution is May 28, 2020 and the distribution will be paid on or before June 3, 2020. Rent collections from office occupiers despite COVID remained strong at 92 percent for the month of April 2020, said CEO Michael Holland. Since Embassy REIT listed in April 2019, the company has delivered a total return of 25 per cent. On operational front, the REIT achieved an overall occupancy of 92.8 per cent on 26.2 million sq ft operating office portfolio. The company leased 2.4 million square feet during the last fiscalv
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