Cube InvIT announces inaugural distribution with Rs 2.15 per unit payout

Cube Highways Trust has recorded a consolidated income of Rs 781.5 crore, along with EBITDA of Rs 422.89 crore, for Q1 FY 2023-24. Notably, this is the first quarter since the investment trust was listed in India in April 2023. The Board of the Investment Manager has declared a distribution per unit (DPU) of Rs 2.15 for the incoming quarter.

Cube Highways Trust (Cube InvIT) has posted a consolidated income of Rs 781.5 crore for the quarter ended on June 30, 2023.

Earning before interest tax depreciation and amortisation was Rs 422.89 crore during the period under review, Cube InvIT said.

These are its first quarterly earnings as the investment trust was listed in India in April 2023.

The Board of the Investment Manager has also declared a distribution per unit (DPU) of Rs 2.15 to ordinary unitholders for the first quarter of FY 2023-24.

The record date for the distribution is August 11, 2023, and the distribution payment will be made on or before August 25, 2023, he said.

Cube Highways Trust has a diversified portfolio of 18 toll and annuity road assets with an aggregate length of 1,423.60 kilometres. These road assets are located across 11 states in India.

The Trust is engaged in implementing the public-private partnership (PPP) model in the country’s highways sector to operate and manage highway projects in association with the Centre and state governments.

It is backed by a diversified investor base, including I Squared Capital, a wholly-owned subsidiary of Abu Dhabi Investment Authority (ADIA), British Columbia Investment Management Corporation, Abu Dhabi’s sovereign investor Mubadala Investment Company, and Japan Highways International BV.

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