FILRT Q1 div flat at P0.062/share

Filinvest REIT [FILRT 3.18 ?0.3%; 70% avgVol] [link] declared a Q1 cash dividend of P0.062/share (flat y/y, flat q/q) on P303 million in distributable income (flat y/y, -7% q/q), for a dividend payout ratio of 99.9%. The dividend is payable on June 27 to shareholders of record as of June 20. This is the 5th consecutive dividend at this level for FILRT.

  MB BOTTOM-LINE:  With this declaration, we now have Q1 divs from each of the eight REITs, and we can look forward to what might happen next quarter. That’s where things get more interesting, because as I covered yesterday, the SEC just approved FILRT’s property-for-share swap that injected the Festival Mall into FILRT’s portfolio. Income from that transfer should show up in FILRT’s Q2 financial statements, so it should have an impact on its Q2 dividend. How much of an impact? That’s what I’ll be watching.