Skye Shelter records N159m income

Skye Shelter Fund, a real estate investment trust listed on the Nigerian Stock Exchange, has declared a dividend of N5 per share for the year ended December 31, 2012.

A statement, which was made available to our correspondent on Thursday, said the figure represented a 24 per cent increase on the N4.04 per share it paid in 2011.

According to the statement, the Chairman, Skye Shelter Fund, Dr. Layi Fatona, told shareholders during the Fund’s 5th Annual General Meeting in Lagos that its gross income for the period under review was N159m, compared to N156m in 2011.

The net income also appreciated, rising to N110m from the N105m it made in 2011, while the operating expenses dropped from N51m to N48m, the chairman was quoted as saying.

During the AGM, the statement said the Managing Director, SFS Capital Limited, the fund manager, Mr. Patrick Ilodianya,highlighted plans to increase the size of the fund to enable it to take advantage of emerging opportunities in the real estate industry.

According to the statement, shareholders, who spoke at the event, while commending the fund’s manager, urged it to give them a preference over prospective share-holders in the course of the planned expansion.

Meanwhile, the equities segment of the Nigerian Stock Exchange experienced a little change at the close of trading on Thursday.

The NSE’s All-Share Index gained 4.69 basis points or 0.01 per cent to close at 36,831.03, up from 36,908.06 points recorded on Wednesday.

Similarly, the market capitalisation of the listed equities gained 0.01 per cent or N2bn from N11.708tn on Wednesday to close at N11.731.

In all, investors staked N4.900bn on 412.359 million shares in 4.449 deals with a total of 29 stocks recording price appreciation, while 21 others recorded price depreciation.

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