Just released financials - good on track and divy increaseFinancials last quarter were good indicates company is on track going forward and big 15% dividend increase starting in January. Not sure why we are stuck in 67-69 cent range we should be around 75 cents.
Starting in January 2020, the annual distribution will go from 2.220c to 2.555c per unit, representing an increase of 15.1%. The monthly distributions will be of 0.213c per unit. This represents a 104% total growth since Fronsac's first distributions in 2012.
Fronsac also announces that it will make monthly cash distributions of 0.213c per unit, representing 2.555c per unit on an annualized basis, on January 31(st) , February 28(th) and March 31(st) , 2020 to unitholders of record on January 15(th) , February 14(th) and March 16(th) , 2020, respectively.
For the quarter ended September 30, 2019, Fronsac reported recurring funds from operations ("Recurring FFO") per unit of 1.02c compared to 0.95c per unit for the quarter ended September 30, 2018, an increase of 8%. Recurring FFO was $1,197,449, an increase of 37% ($871,219 in Q3 2018). During Q3 2019, the Trust's property rental income was $2,458,451 compared to $1,663,373 in Q3 2018, an increase of 48%. NOI (Net operating Income) was $1,881,747 compared to $1,324,647 in Q3 2018, an increase of 42%. Fronsac recorded a net income attributable to unitholders of $3,891,506, or 3.33c per unit, compared to a net income of $544,021, or 0.59c per unit, in Q3 2018.