UPDC REIT Declares ₦0.30 Dividend for 2024 Financial Year

The UPDC Real Estate Investment Trust (UPDC REIT), managed by Stanbic IBTC Asset Management Limited, has announced a final dividend of ₦0.30 per unit for the financial year ended December 31, 2024.

The dividend, which is subject to appropriate withholding tax, will be paid on May 15, 2025, to unitholders whose names appear on the register by the close of business on May 8, 2025.

No bonus units were declared for the period. The register of unitholders will be closed from May 9 to May 14, 2025, in preparation for the payout.

To receive their dividends promptly, unitholders are encouraged to complete their e-dividend registration and instruct the Registrar, First Registrars, to credit their bank accounts directly. The e-dividend mandate activation form is available on www.firstregistrarsnigeria.com.

Unitholders with unclaimed dividend warrants or physical share certificates have also been advised to regularize their claims with the Registrar or through their respective banks.

Explainer: What Is a REIT?

A Real Estate Investment Trust (REIT) is a company that owns, operates, or finances income-generating real estate. In Nigeria, REITs allow individuals to invest in large-scale, professionally managed portfolios of real estate assets—such as residential complexes, shopping malls, and office buildings—without having to buy or manage the properties directly.

REITs are structured to pay out most of their income as dividends, making them attractive to investors seeking regular income. Units of publicly listed REITs can be traded on the Nigerian Exchange, providing liquidity and access for retail and institutional investors alike.

The UPDC REIT is one of the few publicly traded real estate trusts in Nigeria, offering exposure to a diversified portfolio of real estate investments across the country.

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