Skye Shelter Fund Plc Declares ₦5 Dividend

Investors of Skye shelter fund are reaping rewards of their investment as the company paid its unit holders N5 dividend per 100 share for the year ended December 31, 2012. The N5 dividend shows an increase of about 24 percent when compared to the N4.04 dividend paid for in the previous financial year.

Skye Shelter Fund, is the first Real Estate Investment Trust (REIT) to be listed on the Nigerian Stock Exchange. The scheme pools together savings of investors who lack the expertise or time to invest in the real estate and other related investment.

At the 5th AGM meeting held in Lagos, the chairman of SSF, Dr. Layi Fatona said, the fund recorded a total income of N159 million, up from N156 million in 2011. And that net income rose from N105 million to N110 million while operating expenses dropped from N51 million in 2011 to 48 million in 2012.

A number of the unit holders, commended the company for giving them enhanced dividend from year to year.

The company revealed that it has identified new opportunities and new areas to play so as to increase value and returns to the shareholders, assuring them that they would continue to reap higher benefits year in year out.