Green REIT to pay maiden dividend next month

Property investment fund Green REIT will next month pay a maiden dividend to shareholders covering its first year in existence.

The company — the first of the new breed of Irish real estate investment trusts to form almost two years ago — said it intends to declare a dividend in respect of the 12-month period to June 30, 2014, of 92c per share (€6.12m in total) next month, subject to board approval.

The payment will represent 85% of the income from the company’s property rental business during the period in question.