CITICORE Energy REIT Corp. (CREIT) reported steady earnings in the first nine months of 2026 that were backed by stable revenues, which allowed the company to declare a cash dividend of P0.049 per share for the third quarter.
In a disclosure on Thursday, the renewable energy-focused real estate investment trust (REIT) said net income from January to September reached P1.03 billion on revenues of P1.37 billion, virtually unchanged from the previous year.
The company attributed its stable revenue performance to guaranteed base lease payments, which accounted for approximately 93 percent of total revenues.
CREIT reported a gross profit margin of 94 percent and earnings before interest, taxes, depreciation and amortization (Ebitda) of P1.34 billion, equivalent to a 98-percent Ebitda margin.
Meanwhile, it said the declared dividend will be payable on Jan. 12, 2027, to shareholders on record as of Dec. 11, 2026.
Based on its closing share price of P2.89 on Sept. 30, the company said the quarterly payout represented an annualized dividend yield of approximately 6.8 percent.
CREIT said its portfolio maintained a 100-percent occupancy rate and a weighted average lease expiry of 18.69 years, providing long-term visibility for its lease revenues.
Its lease agreements also include built-in annual rental escalations, supporting recurring income over the duration of the contracts.
CREIT President and CEO Oliver Tan said the company's existing portfolio continued to provide a stable source of recurring income through long-term lease agreements.
He added that the company remained focused on maintaining shareholder returns while pursuing opportunities to support its next phase of growth.
Growth prospects are also tied to its sponsor, Citicore Renewable Energy Corp., which reached 1 gigawatt of installed capacity in 2026 and is targeting 5 gigawatts within five years.
CREIT said the sponsor's expansion could provide a pipeline for future asset infusions into the REIT.
The company, which listed on the bourse in February 2022, leases land and infrastructure used by renewable energy operators under long-term agreements.
CREIT shares on Thursday dropped P0.05, or 1.79 percent, to close at P2.75 each.
