UPDC Real Estate Investment Trust (REIT) has declared an interim dividend of N0.22 (22 kobo) per unit, payable to unitholders whose names appear on the register as of the close of business on August 29, 2025.
The announcement was disclosed in a notice filed with the Nigerian Exchange (NGX) and signed by Busola Jejelowo, Chief Executive of Stanbic IBTC Asset Management, the Trustee of the fund.
According to the release, the dividend will be paid on September 4, 2025, and credited electronically to eligible unitholders who have completed their e-dividend registration.
UPDC REIT, listed on the NGX, is an investment vehicle promoted by UPDC Plc. Following a restructuring in 2021, its units were unbundled to shareholders, with UPDC retaining a 5% stake in the trust.
So far in 2025, the investment vehicle has delivered a strong performance in the Nigerian stock market, aiming to match its 113% year-to-date return recorded in 2023.
Market trend:
UPDC REIT began the year trading at N5.40 per unit and gained early momentum in January, closing February at N6.30.
The rally, however, was cut short in March as bearish sentiment dragged the price down to N5.50.
From March through June, the unit price moved in a whipsaw pattern, alternating between gains and pullbacks.
- July marked a turning point, with the Trust surging 48% month-to-date, breaking above N9 and closing at N9.35.
Despite a softer August, which has mostly trended in the red, the Trust still holds a robust year-to-date return of 58%.
This performance mirrors the strength of UPDC Plc shares, which have soared 295.6% year-to-date, likely on the back of solid financial results.
Performance:
UPDC Plc posted a strong first-half performance for the period ended June 30, 2025, with revenue climbing to N6.4 billion, a 148% increase from N2.5 billion in the same period of 2024.
The group’s operating profit also improved significantly, reaching N1.1 billion against N70.7 million in the same period last year.
Supported by N800.7 million in net finance income, the group recorded a pre-tax profit of N1.9 billion, representing a strong 2,568% year-on-year growth.
The company maintained its share capital at 18,559,970 units, unchanged from 2024, while total equity grew 13% to N10.6 billion. Cash and cash equivalents also strengthened, rising 26% to N14.4 billion.
