EfTEN United Property Fund Declares Cash Distribution
EfTEN Capital AS, acting as the management company for the EfTEN United Property Fund (Tallinn: EFCUPFFT), has recently announced an important cash distribution that will benefit its investors. Each unit will receive a distribution of 5,726 euro cents, summing up to a total of approximately 142,226 euros. This represents 0.54% of the fund's current Net Asset Value (NAV) and 0.71% of the most recent closing price of the fund.
Review of Fund Distributions
This marks the second time the EfTEN United Property Fund has distributed earnings in the year. Since the introduction of the fund’s units to the Nasdaq Tallinn stock market in May 2022, a substantial amount of 66.4 euro cents per unit has been distributed to its investors. These distributions highlight the fund's commitment to returning profits to its unitholders.
Source of Distribution
The cash distribution is derived from the income generated by the EfTEN Real Estate Fund 5. This structure enables a transparent flow of income from the real estate investments directly to the fund unitholders, ensuring that they benefit proportionately to their investment in the fund.
Eligibility and Timing for Unitholders
Record Date and Ex-Date Details
To facilitate this distribution, the list of unitholders eligible to receive the payment will be finalized by the end of the business day of the settlement system. This specific record date is set for November 1, 2024. Therefore, any changes related to ownership of the fund units (known as the ex-date) will take effect on October 31, 2024. After this date, newly acquired units will not be eligible for this distribution.
Distribution Payment Timeline
Investors can expect the distribution payment to be processed on November 14, 2024. The funds will be transferred directly to the bank accounts of the respective investors, according to standard taxation laws applicable at the time. This direct transfer process streamlines the distribution for unitholders, ensuring they receive their earned returns promptly.
Contact Information for Investors
If you have questions regarding this distribution or any other inquiries related to the fund, please reach out to:
Kristjan Tamla
Managing Director
Phone: 655 9515
Email: kristjan.tamla@eften.ee
Frequently Asked Questions
What is the amount of the cash distribution announced?
The fund will distribute a total of approximately 142,226 euros, equating to 5,726 euro cents per unit.
When is the distribution payment date?
The distribution payment is scheduled for November 14, 2024.
Where does the distribution income originate?
The distribution is based on income from the EfTEN Real Estate Fund 5.
What is the ex-date and record date for this distribution?
The record date is November 1, 2024, and the ex-date is October 31, 2024.
How can unitholders contact the fund for inquiries?
Unitholders may contact Kristjan Tamla, the Managing Director, via phone at 655 9515 or through email at kristjan.tamla@eften.ee.
