Karachi: Globe Residency REIT, managed by Arif Habib Dolmen REIT Management Limited, announced a final cash dividend of Rs. 1.75 per unit, marking a 17.50% return, in a board meeting on September 7, 2024. According to information available from the Pakistan Stock Exchange (PSX), the dividend is part of the financial results for the fiscal year ended June 30, 2024. No issuance of bonus or right shares was declared.

The Scheme reported significant financial performance with a profit after tax of Rs. 251.92 million for the year ended June 30, 2024, translating to earnings per unit of Rs. 1.80. Revenue from contracts with customers stood at Rs. 3,036.56 million, compared to Rs. 2,849.84 million in the previous year, showcasing a robust growth in operational income.

Operational expenditures for the year included administrative and operating costs of Rs. 81.91 million, alongside other defined expenses such as Sindh sales tax and remunerations related to the REIT management. The net operating income for the period was calculated at Rs. 307.65 million after accounting for all operational expenses.

The annual report, including the detailed statement of profit and loss, will be made accessible to unit holders through PUCARS within the specified time. The share transfer books of the Scheme will remain closed from September 21 to September 23, 2024, for the determination of the entitlement of the cash dividend.

The board meeting held in Naya Nazimabad, Karachi, emphasized the ongoing financial solidity of Globe Residency REIT, as it navigates through the economic conditions with strategic management efforts.