In This Article:
Dissecting the Dividend Performance of Mapletree Industrial Trust (MAPIF)
Mapletree Industrial Trust (MAPIF) recently announced a dividend of $0.03 per share, payable on 2024-03-07, with the ex-dividend date set for 2024-02-01. As investors look forward to this upcoming payment, the spotlight also shines on the company's dividend history, yield, and growth rates. Using the data from GuruFocus, let's delve into Mapletree Industrial Trust's dividend performance and assess its sustainability.
What Does Mapletree Industrial Trust Do?
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Mapletree Industrial Trust is a real estate investment trust focusing on industrial properties and data centers. Its property portfolio consists of 85 properties in Singapore, 56 properties in North America (including 13 data centers held through a joint venture with its sponsor, Mapletree Investments Private Limited) and one property in Osaka. Types of property owned include data centers, high-tech buildings, business parks, and general industrial. The trust is externally managed by Mapletree Industrial Trust Management Limited, a subsidiary of its sponsor, which owns around 31% stake in the trust.
A Glimpse at Mapletree Industrial Trust's Dividend History
Mapletree Industrial Trust has established a consistent dividend payment track record since 2012, with dividends currently distributed on a quarterly basis. Below is a chart showing annual Dividends Per Share to track historical trends.
Breaking Down Mapletree Industrial Trust's Dividend Yield and Growth
As of today, Mapletree Industrial Trust has a 12-month trailing dividend yield of 3.97% and a 12-month forward dividend yield of 3.98%, indicating an expectation of increment in dividend payments over the next 12 months.
Over the past three years, Mapletree Industrial Trust's annual dividend growth rate was 8.60%, which decreased to 2.70% per year over a five-year horizon. The trust's annual dividends per share growth rate over the past decade stands at 3.80%.
Considering Mapletree Industrial Trust's dividend yield and five-year growth rate, the 5-year yield on cost for the stock as of today is approximately 4.54%.
The Sustainability Question: Payout Ratio and Profitability
Evaluating the sustainability of the dividend requires an examination of the company's payout ratio. The dividend payout ratio, which stands at 1.41 as of 2023-09-30, provides insights into the portion of earnings the company distributes as dividends. This ratio may suggest that the company's dividend could be at risk.