Saturday, April 21, 2012

AIMS Industrial REIT: 4QFY2012 results

A dividend of 2.7c per unit is declared for the period 1st January 2012 to 31 March 2012. Total DPU for FY2012 is 10.45c, which is 5.3% higher than FY2011. Based on the last closing price of $1.18, this is a yield of 8.85%

Important dates:
Ex Date: 2 May 2012
Books closure: 4 May 2012
DRP Notice of Election forms: 25 May 2012
Distribution payable date: 19 Jun 2012

Distribution reinvestment plan

A distribution reinvestment plan (DRP) is implemented for 4Q2102. Investors will have the options to reinvest the distributions into units. The pros of this is you will be able to reinvest your distributions into more units without incurring additional brokerage costs. However, you are likely to end up with odd lot units which makes if more inconvenient when you want to sell all your holdings later on.

As seen from the important dates above, investors will need to revert by 25 May on whether they want to receive the distributions in cash or in units.

Personally, I would leave my options open for now. There is still about a month or so for me to decide on whether i want to participate in this DRP. Even though the current prices are still below NAV, aims is hitting its all time high. For now, I am a little reluctant to top up at such high prices. I will decide on this again when the dates draw closer.

AIMS rising over the past few months:
Since the start of the year, we have seen AIMS rising steadily from around 90c to $1.18 as of last Friday. Even then, AIMS is still one of the best in terms of yield when compared to other REITS. 

NAV:  $1.406. 
Gearing: 30%

For now, I will not be keen to top up on AIMS; but will continue to hold my AIMS units for yield. I will also decide later if I would want to take part in the DRP or receive cash for the distributions instead.

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