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Skye Shelter Declears Final & Interim Dividend
Skye Shelter Fund, Nigeria’s first publicly listed Real Estate Investment Trust (REIT) has declared a dividend for the year ended December 31, 2009 of ₦7 per unit.

The dividend is the Fund’s 2nd following its listing in February 2008 and is payable on August 31, 2010. The dividend represents a 50.54% increase from the dividend paid for the year ended December 31, 2008. The distribution accounts for 80% of the Fund’s Net Income in line with its minimum distribution requirement.

Furthermore, the Fund has declared its intention to distribute an interim dividend of ₦3 per share to unitholders for the first half of 2010. This is a demonstration of the Fund manager’s confidence in its ability to deliver steady growth and consistent returns to investors.

The ₦3 interim dividend would imply that the Fund has declared a dividend for 3 years. The Fund manager expects the share to qualify for investment by Pension Fund Administrators (PFAs) with the declaration and payment of the third dividend. >