The Clap
AlJazira Capital, the investment arm of Bank AlJazira, decided to distribute about 4 million riyals in cash dividends to trust holders of its AlJazira REIT Fund for 2023.
What
0.34 riyals will be disbursed per certificate, a distribution rate of 4.58% of the net asset value of the fund as of June 30, 2023.
So What
AlJazira REIT is a closed-end real estate investment traded fund that aims to invest in structurally developed properties that generate periodic income.
The Fund distributes at least 90% of its net profits in cash to investors, a minimum of once a year, after collecting the rental income.
Now What
Cash dividends are due by the end of November 22nd, & payment will be made within 10 business days.
