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The real estate fund may have a 25.9% decrease in dividend yield

The real estate fund may have a 25.9% decrease in dividend yield

The real estate fund could see a 25.9% drop in its earnings. Learn about this FII and the reasons for the possible drop in earnings.

The real estate fund may have a 25.9% decrease in dividend yield. Photo: Pixabay

Real estate fund shareholders RECT11 Changes to the securitization process for the outstanding balance relating to the installment purchase of the Barra da Tijuca building have been approved. The FII also disclosed a possible drop in the dividend to the level of R$0.40 per share, 25.9% lower than the previous value. But what are the reasons? Understand everything below.

The changes were approved by RECT11 investors at a special meeting of CRI holders for Series 215, 220 and 251 of the Opea Securitizadora First Edition and were notified by the FII on Monday (29).

An exceptional amortization of R$ 7.6 million will be carried out in 4 working days, using resources from RECT11 already deposited in the extinguishing fund of the securitization company.

Shareholders agreed to assign an obligation Background RECT11 To make quarterly deposits that were scheduled for June and September 2023. As a result, the extraordinary amortization scheduled for September 2023 has been cancelled.

Thus, it was given a grace period of 12 months to pay the amortization of the Certificates of Real Estate Receivables (CRI).

Reduced cash result

a Real Estate Fund RECT11 It will pay interest and timely cash restatement of R$3.9 in June 2023, and R$1.3 million over the 12-month amortization grace period, with monthly restatement on an IPCA basis. The first payment will be made in July this year.

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The Fund classifies these payments as cash financing expenses. Because of this, these amounts will end up reducing FII’s monthly cash result. It is estimated that the new monthly dividend level for RECT11 will be approximately R$0.40 per share from May 2023.

RECT11 indicates that with these changes, the fund’s cash flow will be healthier, without the need to raise money in 2023.

With approved exceptional amortization, liabilities FII RECT11 Regarding the purchase by installments of the Barra da Tijuca building it will be reduced by approximately 6%.

Dividends from RECT11

Consider paying RECT11 earnings In the past three months, which was R$ 0.54 per share, the new dividend level that the fund expected (R$ 0.40 per share) would represent a 25.9% drop in its earnings.

You Income from RECT11 The aggregate value totaled R$2.6621 per share in 2023, which is 3.58% higher than the amount recorded in the first five months of last year, which was R$2.5701 per share.

In the last 12 months, it has been earnings RECT11 You add up to R$6.1747 per share, for a dividend yield of 10.82%.