Mulkia Gulf REIT to distribute quarterly dividend in 2018

12/02/2018 Argaam

 

Mulkia - Gulf Real Estate Fund will distribute dividend to unit holders on a quarterly basis for fiscal year 2018 after obtaining approval of the board of directors, fund manager Mulkia Investment Co. said in a statement in Tadawul on Monday.

 

The objective of the quarterly distributions is to provide liquidity to unit holders, the statement added.

 

The fund aims to distribute an annual dividend no less than 90 percent of net profit at least once a year.

 

Last month, Mulkia REIT said it would pay a 1.05 percent cash dividend amounting to SAR 6.3 million (SAR 0.105 per unit) to shareholders for the period from Nov. 5 to Dec. 31, 2017.

 

The fund started trading on the Saudi Stock Exchange (Tadawul) on Nov. 5, 2017.

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