Cube Highways Trust declares maiden distribution of ₹2.15 per unit
₹2.15 to ordinary unitholders for the first quarter of fiscal year 2023-24, with a total amount of ₹277.42 crore to be distributed. Cube InvIT reported a consolidated total income of ₹781.58 crore and an earnings before interest, taxes, depreciation or Ebitda of ₹423 crore during the first quarter ended June 30.
“The DPU shall comprise ₹1.34 per ordinary unit as interest, ₹0.80 per unit as a dividend, and ₹0.01 per unit as treasury income. The record date for the distribution is August 11, 2023, and the distribution payment will be made on or before August 25, 2023.
We are confident that we will continue to consistently deliver reliable returns to our investors and maintain industry-leading financial performance," stated Pankaj Vasani, Group CFO of Cube InvIT. CEO Vinay Sekar added, “We are commencing the fiscal on a firm footing, and are enthusiastic about delivering the Trust’s first-ever quarterly distribution.
Cube InvIT remains committed to efficiently operating its portfolio to deliver stable returns and long-term value to unitholders." Cube Highways Trust had in June secured ₹1,030 crore through long-term listed non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The funds raised through this deal will be utilised for a Special Purpose Vehicle (SPV) owned by Cube Highways Trust.
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