BullnBearTrading shared · Apr 10, 2023 19:09

4 Singapore Stocks Paying Out Dividends in April: ESR-Logos REIT

ESR-Logos REIT owns a portfolio of 82 industrial properties across Singapore, Australia, and Japan with total assets of S$5.7 billion as of 31 December 2022.

In February, the REIT announced an equity fundraising exercise to raise a total of S$300 million via a private placement cum preferential offering of units.

The private placement was well-received, being three times over-subscribed, and new units were issued at S$0.33.

The preferential offer saw units being issued at S$0.325, a discount of S$0.005 to the private placement issue price.

As a result of this placement, ESR-Logos REIT announced an advanced distribution of S$0.00448 to be paid out on 14 April 2023.

The REIT manager has identified up to S$450 million of non-core assets to be divested over the next 12 months as part of its capital recycling initiative.

This fundraising will also greatly reduce the REIT’s gearing from 41.8% to 32.3%, allowing the manager to tap on debt funding for future acquisitions.