Karachi, Dolmen City Reit informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on January 20, 2020.
The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 3,224,164 with earnings per share 1.45 basic and diluted respectively.
Further, 3.5% payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from February 04, 2020 to February 10, 2020 (both days inclusive).
City REIT is Pakistan’s first REIT scheme. It is a closed-ended, Listed Shariah compliant Rental REIT which offers investors to become Unit holders of two component of the Dolmen City project, Dolmen Mall Clifton and The Harbor Front. The properties will generate rental income that will be distributed by the REIT Scheme among unit holders in the shape of dividends. Any possible appreciation in the value of the property will be an added benefit. Dolmen Mall Clifton has a total built-up area of approximately 1 million square feet spread over three levels. Anchored by Hyperstar and Debenhams, Dolmen Mall Clifton has a strong mix of local and international brands including Mango, Next, Nike, Nine West, Timberland and Charles & Keith.
The building is currently 100% occupied with the current tenant portfolio comprising of companies including Engro, Phillip Morris Mitsubishi and Procter & Gamble, among others.
The symbol “DCR” is being used by the stock exchange for the shares of Dolmen City Reit.