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Dividends

01. Dividends

33rd Fiscal Period (September 1, 2020 -February 28, 2021) Actual
Dividend per unit 3,361 yen

Only unitholders on the register as of the end of February 2021 are eligible to receive the dividend for the 33rd fiscal period. The final trading day with rights at the Tokyo Stock Exchange and Fukuoka Stock Exchange is February 24, 2021.

34th Fiscal Period (March 1, 2021 -August 31, 2021) Forecast
Dividend per unit 3,500 yen
35th Fiscal Period (September 1, 2021 -February 28, 2022) Forecast
Dividend per unit 3,500 yen

The figures above are the dividend forecasts and results of Fukuoka REIT Corporation. The dividend forecasts are calculated under the definite presumption. The actual dividend could be changed under the variation of economic condition. In addition, these forecasts are not guaranteed the price of dividend.

Dividend track record

02. Financial Highlights

(mm yen)
  29th 30th 31st 32nd 33rd
Operating revenues 9,242 9,231 9,162 8,518 8,904
Leasing NOI(Note 1) 5,591 5,633 5,596 5,307 5,347
Depreciation and amortization expenses 1,622 1,651 1,660 1,686 1,623
Operating income 3,306 3,318 3,273 2,966 3,061
Ordinary income 2,935 2,939 2,900 2,587 2,677
Profit 2,934 2,939 2,899 2,586 2,675
Dividend per unit (yen) 3,687 3,693 3,642 3,250 3,361
Dividend yield (at period-end) (%) (Note 2) 4.4 4.1 4.4 4.7 4.0
Total number of investment units outstanding (at period-end) 796,000 796,000 796,000 796,000 796,000
Total assets (at period-end) 195,433 195,106 194,795 199,004 199,559
Net assets (at period-end) 101,874 101,878 101,837 101,525 101,614
Net assets per unit (yen)(at period-end) 127,982 127,987 127,937 127,544 127,656
Market net assets value per unit (Note 3) 164,250 167,118 170,680 171,592 171,943
Ratio of interest-bearing debt (%) 39.7 39.7 39.8 41.4 41.3
FFO per unit (yen) (Note 4) 5,725 5,767 5,728 5,368 5,401
Days in fiscal period(days) 181 184 182 184 181
Number of investment properties (at period-end) 29 29 29 31 31
Number of tenants (at period-end) (Note 5) 1,011 1,020 1,007 1,016 1,011
Total leasable floor space (m2)(Note 6) 580,665.27 580,664.27 580,662.77 591,021.51 608,557.7
Occupancy rate (at period-end)(%) 99.7 99.6 99.7 99.7 99.5
  • "Leasing NOI" is calculated using "Leasing business revenues - Expenses related to leasing business + Depreciation and amortization expenses".
  • (Dividend / Days in fiscal period × 365) / Unit price (at end of each fiscal period)
  • Market net asset value per unit= {Total net assets + Unrealized gains - Total amount of dividends} / Total number of investment units outstanding
  • The FFO per unit is calculated by the following method.
    FFO per unit = (Profit + Loss on sale of real estate-Gain on sale of real estate + Depreciation) / Total number of investment units outstanding
  • "Number of tenants" is based on the total number of sections stipulated in the tenancy agreements for retail and office buildings among relevant properties. For the number of tenants in pass-through master leasing properties, the number of sections stipulated in the tenancy agreements with end tenants is shown.
  • "Total leasable floor space" indicates the figure for properties owned at end of period.
  • Fukuoka REIT implemented a 5-for-1 split of its investment units with March 1, 2014 as the effective date.

03. LTV track record

(%)
  29th 30th 31st 32nd 33rd
Total debt (mm yen) 77,500 77,500 77,500 82,400 82,400
Total assets (mm yen) 195,433 195,106 194,795 199,004 199,559
Period-end appraisal value(mm yen) 216,520 217,620 219,260 225,540 224,900
Period-end book value(mm yen) 184,715 183,532 182,336 187,571 186,972
Unrealized gain (mm yen) 31,804 34,087 36,923 37,968 37,927
LTV(%) 39.7 39.7 39.8 41.4 41.3

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