CITICORE Energy REIT Corp. (CREIT) on Tuesday reported netting P359.28 million in the first quarter, up from P304.96 million a year earlier and attributed to the takeup of newly acquired properties.

Revenues for the first three months of 2024 rose by 26 percent to P473 million from P376 million, it said in a statement.

"We have remained consistent in providing investors a sustainable and attractive dividend-paying REIT (real estate investment trust) instrument from recurring but growing lease revenues, with asset acquisition in support of Citicore Renewable Energy Corporation's project pipeline," CREIT President and CEO Oliver Tan said.

"This also demonstrates the resiliency of our REIT investment strategy to keep on adding value-accretive assets, with CREIT mirroring the growth roadmap of its sponsor (Citicore Renewable Energy Corporation)," he added.

CREIT also said that it had declared dividends amounting to P0.049 per share, 4 percent higher than the P0.047 per share dividend declared a year earlier and to be paid on July 9, 2024 to shareholders on record as of June 13, 2024.

CREIT's share price rose by two centavos to P2.85 on Tuesday.