Cube Highways approves a Rs 3.94 per unit dividend

24 May 2024 CW Team

The Cube Highways Trust, overseen by Cube Highways Fund Advisors Pvt Ltd, has declared a dividend to ordinary unit holders of Rs 3.94 per unit, totaling Rs 5.08 billion, for the fourth quarter of FY24. The distribution per unit is as follows: Rs 1.79 for interest, 20 paisa for dividends, Rs 1.94 for SPV loan repayment, and 1 paisa for Treasury revenue. Ordinary unitholders will receive a dividend per unit (DPU) of Rs 3.94 from the Investment Manager's Board of Directors, for a total distribution amount of Rs 5.08 billion. According to the trust, the Rs 10.09 annual DPU disclosed for FY24 is made out of Rs 7.10 in interest per unit, 99 paise in dividends, Rs 1.94 in SPV loan repayment, and 6 paise in treasury revenue. Cube Highways Trust is an infrastructure investment trust and is backed by a diversified investor base. According to the report, Cube InvIT CEO Vinay Sekar stated that the company plans to acquire seven more road assets, subject to obtaining the necessary regulatory and unitholder approvals. Sekar explained that six of these assets are based on the National Highways Authority of India's (NHAI) Hybrid Annuity Model, where the revenues are not contingent on traffic. He noted that this model would contribute to higher revenue stability and yields for the company

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