ARM Investment Managers Ltd has declared cash distributions for the second half of 2025 for the MoFI Real Estate Investment Fund (MREIF), proposing to pay N3.75 per unit and N9.7192 per unit, for Series 1 and 2, respectively.
The announcement was contained in a formal corporate actions notice filed with the Nigerian Exchange (NGX) at the close of business on Thursday, February 19, 2026, and it covers the period ended December 31, 2025.
Under the proposal, Series I investors will receive a dividend of N3.7468 per unit, while Series II investors are to earn a significantly higher N9.7192 per unit, subject to applicable withholding tax and regulatory approvals.
The wide differential reflects the distinct structure of the two units with varying risk profiles.
Key Highlights
- Series I dividend: N3.7468 per unit
- Series II dividend: N9.7192 per unit
- Qualification date: February 20, 2026
- Register closure: From February 23, 2026
- Payment date: February 27, 2026
- Registrar: Africa Prudential Plc
- Payment method: Electronic (e-dividend mandate required)
Key dates set as ARM moves to close register
According to ARM, investors whose names appear on the register at the close of business on February 19, 2026, will qualify for the dividend.
- The qualification date is February 20, 2026, while the register of unit holders will be closed from February 23, 2026.
- Dividend payments are scheduled for February 27, 2026, and will be made electronically to eligible investors who have completed the e-dividend mandate process.
- Investors yet to complete their e-dividend registration have been advised to do so promptly to avoid delays in receiving payments.
ARM emphasized the use of electronic dividend payments as part of broader efforts to improve operational efficiency and reduce unclaimed distributions in the market.
The fund’s registrar, Africa Prudential Plc, will handle dividend processing and investor records, with dedicated contact channels provided for enquiries.
Performance on NGX:
MOFI Real Estate Investment Fund (MOFIREIF) has remained stagnant since listing on NGX with minimal trading activity, making it the 134th (the least) most traded stock on the NGX since Nov 20, 2025.
- It has traded about a total volume of 87,664 shares—in 64 deals—valued at N9.63 million in more than three months, with an average of 1,391 traded shares per session.
- A volume high of about 25,000 was achieved on November 24th, barely two weeks after listing, but since then, no significant trade execution has been noted on the fund.
- Despite these constraints, the fund has proposed a surprise dividend payout, a development likely to trigger activity in the fund.
What you need to know
The N1 trillion Series II of the Ministry of Finance Incorporated (MOFI) Real Estate Investment Fund was listed on the NGX on November 11, 2025.
- The Funds were designed to attract diverse investors, offering varying risk-return profiles across Series I and II units.
- With 1 billion units priced at N100 each at the time of listing, it was a key initiative of the government positioned to deepen housing finance and unlock value from federally owned real estate assets.
- Investors in the Series II funds are now beneficiaries of the stronger income performance reflected in the significantly higher Series II payout declared for H2 2025.
