ARM Investment Managers Ltd has announced proposed cash distributions for the second half of 2025 for the MoFI Real Estate Investment Fund (MREIF), offering N3.7468 per unit for Series I and N9.7192 per unit for Series II. The announcement, formalized in a corporate actions notice filed with the Nigerian Exchange (NGX) at the close of business on Thursday, February 19, 2026, covers the period ended December 31, 2025.
The proposed payouts reflect the differing structures and risk-return profiles of the fund’s two series. While Series I investors receive a moderate dividend, Series II investors are set to enjoy a substantially higher distribution, indicative of the stronger income performance associated with the larger Series II tranche. Both payments are subject to applicable withholding tax and regulatory approvals.
Key Dividend Details
- Series I dividend: N3.7468 per unit
- Series II dividend: N9.7192 per unit
- Qualification date: February 20, 2026
- Register closure: February 23, 2026
- Payment date: February 27, 2026
- Registrar: Africa Prudential Plc
- Payment method: Electronic (e-dividend mandate required)
Investors recorded on the MREIF register at the close of business on February 19, 2026, will qualify for the dividend. ARM has emphasized that payments will be made electronically to investors who have completed their e-dividend registration, part of a broader initiative to improve operational efficiency and minimize unclaimed distributions. Investors yet to complete the registration process have been urged to do so promptly to avoid delays. Africa Prudential Plc, serving as the fund’s registrar, will oversee dividend processing and investor records, providing dedicated channels for enquiries.
Trading Performance on NGX
Since its listing on the NGX on November 11, 2025, MREIF has experienced minimal trading activity, ranking as the 134th most traded stock on the exchange. In roughly three months, the fund recorded a total trading volume of 87,664 shares across 64 deals, valued at N9.63 million, averaging just 1,391 shares per session. The highest volume observed was approximately 25,000 shares on November 24, shortly after the listing, but trading activity has remained subdued since.
Despite this relatively stagnant market performance, the announcement of the dividend is likely to attract renewed investor interest, particularly given the attractive Series II payout.
About the Fund
The MoFI Real Estate Investment Fund was launched to deepen housing finance and unlock value from federally owned real estate assets. Series II, which has a total size of N1 trillion, consists of 1 billion units priced at N100 each at the time of listing. The fund is structured to appeal to a wide range of investors, offering different risk-return profiles across Series I and II units.
The higher Series II dividend reflects the fund’s capacity to generate stronger income streams for investors, a key incentive for those participating in the government-backed initiative. Series I units, designed with a more conservative profile, continue to provide steady but moderate returns.
Looking Ahead
With the register set to close on February 23 and dividend payments scheduled for February 27, ARM’s announcement underscores the fund’s commitment to delivering returns to investors, even amid limited secondary market activity. The electronic payment process is also part of a broader effort to streamline distributions and improve investor experience, ensuring timely and secure access to dividend proceeds.