IRB InvIT Announces Maiden Dividend
IRB InvIT Fund pays dividend at 12.6 percent annualised rate of return.
- IRB InvIT Fund announces dividend of Rs 1.55 per share
- Dividend for 44 days translates to annualised payout of 12.6 percent
- IRB InvIT Fund reports Q1FY18 revenue of Rs 151 crore, EBITA of Rs 123 crore
India’s first listed infrastructure investment trust announced its maiden dividend.
IRB Infrastructure Investment Trust Fund’s will pay shareholders Rs 1.55 per unit, according to its statement. The return for 44 days from the date of listing translates into an annual payout of 12.6 percent.
The InvIT’s board also decided to pay dividend every quarter rather than the stipulated half-yearly. The dividend for the quarter ended June will be paid to shareholders on or before August 11, the trust said.
The board will pay 94 percent of the distributable cash flow compared 90 percent minimum stipulated by the regulator.
IRB InvIT Fund reported a revenue of Rs 151 crore for the quarter, while earnings before interest, tax, depreciation and amortisation came stood at Rs 123 crores. The accounts released were for a period of 53 days.
IRB InvIT Fund made its market debut on May 18 after the initial public offering was subscribed more than 8.5 times.