Merkado Barkada
November 12, 2025 | 8:00am
Citicore Energy REIT [CREIT 3.40, up 0.3%] [link] declared a Q3/25 dividend of P0.049/share, payable on Jan. 12, 2026 to shareholders of record as of Dec. 11, 2025. The dividend was unchanged both q/q and y/y. In compliance with the REIT requirement to distribute at least 90% of its distributable income—which totaled P304.49 million for the quarter—CREIT’s latest payout amounts to P274 million.
MB bottom-line: Longtime readers will know that I’m a big fan of CREIT’s structure, and a huge fan of CREIT’s management team. CREIT has been a very stable and dependable investment through a period of PSE chaos and global underperformance. Since its first P0.49 dividend back in Q2 of 2023, CREIT’s repeatedly delivered stable dividends while its stock has appreciated 45%. Over the same span of time, the PSEi has fallen nearly 17%. So CREIT would have been a good choice for most portfolios over that span. The thing that kills me, though, is the lack of growth. Two and a half years is a long time to wait for a reward. I’m not prepared to lump this all on the executive team, as I’ve heard that there may be regulatory issues getting in the way of efficient transfers between CREIT and its sponsor, but if this is a rules issue, then who are we waiting for to act? The SEC? The ERC? Renewable energy is a massive component of our country’s future growth and energy security, and being able to recycle capital in this capital-intensive industry to continue development is a vital part of our strategy to fuel that growth. So what the hell is going on? The PSE is filling up with public renewable energy companies, but they’re all doing prefs and bond sales to raise capital, presumably due to this same issue. Sayang.
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