Citicore Energy REIT boosts dividend to PHP 0.055 per share, highest since IPO

Citicore Energy REIT Corporation (CREIT) has declared dividends of Php 0.055 per share, surpassing the Php 0.054 per share announced during the same period last year.

The increase stems from both regular dividends generated from CREIT’s guaranteed base lease revenues in the fourth quarter of 2024 and special dividends derived from variable lease revenues over the year.

“On its third year of operations, CREIT is proud to declare its highest quarterly dividend to date. We remain committed to provide investors with a sustainable and attractive dividend-paying investment as we continue to grow the Company’s green asset portfolio, mirroring the growth of its sponsor, Citicore Renewables as it continues to embark on its 5GW in 5-year journey,” said CREIT President and Chief Executive Officer Oliver Y. Tan.

CREIT’s variable lease revenues reached Php 50 million for 2024, marking a 48% increase in excess revenues earned by its lessees over base revenues. The surge was driven by higher actual energy generation compared to base projections and improved contract renewal rates.

For 2024, the company declared total dividends of Php 0.202 per share—the highest annual dividend payout since its listing on the Philippine Stock Exchange in 2022. This translates to an annualized yield of 6.43%, based on the March 24 closing price of Php 3.14 per share.

The dividends for the fourth quarter of 2024, declared on March 25, 2025, will be payable on May 21, 2025, to shareholders on record as of April 24, 2025.

CREIT’s sponsor, Citicore Renewable Energy Corporation (CREC), aims to energize its first gigawatt (GW) by 2025 as part of its long-term expansion. CREIT’s green asset portfolio spans 7.1 million square meters, with 100% occupancy and a weighted average lease expiry of 20.69 years. Since its stock market debut in February 2022, CREIT has consistently declared dividends exceeding the prescribed minimum.

Investors and stakeholders can look forward to CREIT’s continued commitment to growth, sustainability, and shareholder returns as it expands its renewable energy footprint.