News & Media

Third-quarter dividend per share jumps 10% year-on-year

MREIT, Inc. (“MREIT”), the real estate investment trust of Megaworld Corporation, reported a 106% year-on-year increase in distributable income to P1.93-billion in the third quarter of 2026, while revenues rose 90% to P2.71-billion.

Over P43-billion in asset infusions through Waves 4 and 5 represented the largest infusion value among PSE-listed REITs in the first nine months of 2026. The transactions nearly doubled MREIT’s gross leasable area (GLA) from 482,000 square meters to approximately 951,000 square meters, driving strong earnings growth, supported by operating efficiencies across its portfolio. Wave 4 was completed in the first quarter, while Wave 5 contributed income beginning July 1, 2026.

For the first nine months of 2026, distributable income reached P4.42 billion, up 58% year-on-year, while revenues increased 48% to P6.13-billion.

Portfolio occupancy remained strong at over 90%, strengthening recurring rental income alongside contributions from newly infused assets. Occupancy remains significantly above broader Metro Manila market levels, reflecting the resilience of MREIT’s township-based assets and its ability to deliver operating gains even amidst economic headwinds.

Wave 5 broadened MREIT’s sources of rental income through the addition of five lifestyle malls: Festive Walk Mall, Lucky Chinatown Mall, Venice Grand Canal Mall, Eastwood Mall, and Southwoods Mall. The expanded portfolio now comprises approximately 77% office, 20% retail, and 3% hotel by GLA across nine Megaworld townships, giving MREIT greater exposure to retail and hospitality demand to complement its established office business.

Supported by material income accretion from Wave 5, MREIT declared a third-quarter cash dividend of P0.2762 per share, up 10% from P0.25048 in the same period last year. The latest dividend also represents a sequential 5% increase from P0.26300 in the second quarter, building on the higher dividend level established following Wave 4 earlier this year.

Wave 5 delivers on MREIT’s commitment to translate asset infusions into material dividend-per-share accretion. Following the dividend uplift from Wave 4, the further increase from Wave 5 demonstrates how successive infusions are converting portfolio expansion into tangible gains for shareholders.

The third-quarter dividend is equivalent to an annualized yield of 8.1% based on MREIT’s closing share price on October 22, 2026. Payable on November 20, 2026 to stockholders on record as of November 10, 2026, the declaration brings dividends attributable to the first nine months of 2026 to P0.80215 per share. The higher third-quarter dividend represents a payout ratio of 91%, supporting dividend sustainability and financial flexibility as MREIT pursues further growth.

“We committed to making each asset infusion translate into meaningful growth in dividends per share, and Waves 4 and 5 delivered on that commitment. Following Wave 4’s dividend-per-share uplift earlier this year, shareholders are now receiving another increase. This is how we intend to build consistent growth across successive infusion waves. We will maintain the same focus on material dividend-per-share accretion in future acquisitions, while simultaneously improving the performance of our properties and preserving financial flexibility,” said Jose Arnulfo C. Batac, President and CEO of MREIT, Inc.

MREIT is evaluating select crown-jewel assets in Megaworld’s Uptown Bonifacio for its Wave 6 infusion. The assets to be included, transaction terms, and timing have yet to be finalized. Any proposed infusion remains subject to due diligence, valuation, and the necessary corporate and regulatory approvals.