By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE) – The Fund Managers of UPDC Real Estate Investment Trust (REIT), FSDH Asset Management Limited, said on Tuesday unit holders in the fund will be rewarded with N835 million final dividends for the 19-Month period ended December 31, 2014, FSDH said in a filing with the Nigerian Stock Exchange (NSE).

A statement of comprehensive income for the 19-month period December 31, 2014, as extracted from the audited financial report shows that interim distribution for June 2014 was N1.494 billion, while final distribution stands at N834.94 million; indicating a total of N2.329 billion.

According to the asset management company, the proposed distribution has been approved by the Securities & Exchange Commission (SEC).

The corporate declaration says closure date is April 07, 2015; while closure period is for two (2) days April 08-09, 2015.

FSDH affirmed that annual general meeting (AGM) and payment date for the 31kobo per unit distribution of the UPDC REIT is April 28, 2015 respectively.

“The Register of Unit holders and Transfer Books of the UPDC Real Estate Investment Trust will be closed on Tuesday, April 7, 2015 and will remain closed for the next two working days i.e April 8-9 2015 for the purpose of ascertaining the unit holders that qualify for the distribution for the period ended December 31, 2014. Accordingly, the distribution wil be able payable to all Unit registered in the Books as at the close business on April, 2015.

The payment of the distribution, to all Unit holders registered in the Books as at close of business on Tuesday, April 7, 2015, will be effected on Tuesday April 28, 2015,” FSDH affirmed.

Also, income from investment stands at N2.048 billion, while interest income is N1.380 billion.

Net income before tax and net income after tax stands at N4.790 billion and N4.843 billion respectively.