THE Tigere Real Estate Investment Trust (REIT) has declared an 83% higher quarterly dividend of US$847 250 for the period ended 31 December 2025, reflecting robust net property income growth, yield-accretive acquisitions, and improved distributable income margins.
The REIT paid US$463 200 in the same quarter of 2024.
“Notice is hereby given that the REIT has declared its quarterly dividend of US$847 250 (being 0,04602 United States cents per unit) in respect of the quarter ended December 31, 2025,” Tigere said in a statement.
The dividend will be payable on or about March 18, next month, to all unitholders of the REIT registered at the close of business on March 13.
For the year ended 31 December 2025, Tigere reported comprehensive income of US$2,67 million, up from US$1,34 million the previous year.
“The fund posted a strong set of results over the period under review despite rising competition within the retail segment, culminating in firm alignment with earnings guidelines in the pre-close statement published on the 16th of December 2025,” Tigere said.
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Net property income grew by 61% to US$2 726 797 during the period under review, attributable to the inclusion of Greenfields and Zimre Park Drive Thru in the latter part of Q4; the first full 12-month period with Highland Park Phase 2 included in the portfolio; in-force lease escalations and, positive rental reversions following renewals at Highland Park Phase 1 and Chinamano Corner.
Operating efficiency improved, with the expenses ratio declining to 16,5% from 23,2% in 2024.
Profitability per unit strengthened, as distributable income per unit and dividend per unit rose 23,2% and 28,2%, respectively, to US0,197 cents and US0,228 cents.
The dividend payout ratio increased to 103,2%, up from 99,2%, supported by accumulated retained earnings and minimal capex needs in the coming year.
Tigere said as portfolio assets matured, capex and maintenance requirements would naturally increase.
Debtors fell 61,6% to US$52 014, yielding a collection rate of 97,3% (FY24: 91,3%). The balance sheet remained strong with no new debt, and investment property grew 75,6% due to yield-accretive acquisitions and fair value adjustments at Highland Park and Chinamano Corner.
Net asset value rose to US$59,48 million from US$34,03 million the prior year.
Average occupancy ended at 97%, following successful tenant replacements in Q4.
Newly acquired assets entered the portfolio with 100% leased lettable space. Retail performance exceeded expectations, particularly at Greenfields, where restaurants and entertainment tenants surpassed monthly sales targets in November and December.
In the outlook, Tigere plans key redevelopments at Highland Park in 2026 to enhance the tenant mix and revenue. The fund also expects to acquire four additional yield-accretive commercial properties during the year.