Cube Highways Announces Rs 3.94 Per Unit Dividend for Q4 FY24

New Delhi, May 23 (PTI) Cube Highways Trust, managed by Cube Highways Fund Advisors Pvt Ltd has approved Rs 3.94 per unit distribution to ordinary unitholders aggregating Rs 508 crore for Q4 FY24.

The per unit distribution comprises Rs 1.79 as interest, 20 paise as dividend, Rs 1.94 as repayment of SPV loan and 1 paisa as treasury income, it said in a statement.

"The Board of Directors of the Investment Manager has declared a distribution per unit (DPU) of Rs 3.94 to ordinary unitholders, amounting to a total distribution amount of Rs 508 crore," the statement said.

The trust said the annual DPU of Rs 10.09 declared for FY24 comprises Rs 7.10 per unit as interest, 99 paise as dividend, Rs 1.94 as repayment of SPV loan and 6 paise as treasury income.

Cube InvIT CEO Vinay Sekar said,"We plan to acquire seven more road assets, subject to requisite regulatory and unitholder approvals, of which six are based on NHAI's Hybrid Annuity Model where the revenues are not contingent on traffic and hence would contribute to a higher revenue stability and yields."

Cube Highways Trust is an infrastructure investment trust and is backed by a diversified investor base.