GZIT11 Dividends — income history

When does GZIT11 pay the next dividend?

• 2026-09 — Progress on the Internacional Guarulhos retrofit: Per the Capex project, the first phase of the retrofit is expected to be completed in 2H2026, delivering modernized spaces.
• 2026-12 — CRI principal repayment peak in 2026 (R$ 37.8M): Principal repayment schedule of R$ 37.8M throughout 2026 (vs. only R$ 3M in 2025). In parallel, monthly financial expenses of R$ 4.2M continue. Pressure on real cash generation requires reserves and linearization.
• 2027-01 — Start of 80% management fee phase-in: Management fee steps up from 60% (2026) to 80% (2027) — an additional expense of ~R$ 0.01/unit monthly.
• 2027-06 — Maturation of Internacional + Light Capex: Completion of the Internacional Guarulhos and Shopping Light retrofits. Management signals significant NOI gains starting this year.
• 2027-12 — CRI principal repayment peak in 2027 (R$ 46.6M): Largest principal repayment peak in the schedule (R$ 46.6M). Combined with an 80% management fee, the environment requires ~10% higher NOI to maintain the same DPU range.

GZIT11 dividend summary

• DPS atual: R$ 0.42/unit
• DY 12m: 10,5%
• Status: Sustentável

Income analysis

Sideways with a medium-term positive bias. Current DPU is sustainable; the inflection point is the maturation of the Internacional Guarulhos retrofit + Shopping Light satelitization in 2027.

Are the dividends sustainable?

The distribution of R$ 0.42/unit is sustainable: a 12m average payout of 65% indicates that the fund generates 50% more cash than it distributes. Reserves of R$ 16.9M (~R$ 0.73/unit) comfortably support linearizations within the R$ 0.38–0.46/unit range declared by the manager. Net cash of R$ 112M following the 8th offering provides room for the 2026-2027 repayment schedule.

Distribution guidance

For 1S2026, the manager projects a distribution of R$ 0.38 to R$ 0.46 per unit per month.

Dividend yield projection

Current DY (12m): 10.5% · Projected DY: 11.3% · reference price R$ 37.03

Will GZIT11 keep the dividend?

Stable distribution within the range, growing reserves

12-month average payout of 0.65% · burn of R$ 0 per unit per month.

GZIT11 dividends in 2026

In 2026 GZIT11 paid R$ 2.88 per unit across 7 periods, averaging R$ 0.41 per month.

GZIT11 dividends in 2025

In 2025 GZIT11 paid R$ 9.36 per unit across 12 periods, averaging R$ 0.78 per month.

GZIT11 dividends in 2024

In 2024 GZIT11 paid R$ 9.36 per unit across 12 periods, averaging R$ 0.78 per month.

GZIT11 dividends in 2023

In 2023 GZIT11 paid R$ 0.96 per unit across 2 periods, averaging R$ 0.48 per month.

Payout by half-year

Frequently asked questions

What was GZIT11's latest dividend?

The latest income announced by GZIT11 was R$ 0.36 per unit, paid on 2026-08-31.

Does GZIT11 pay monthly dividends?

Yes, GZIT11 distributes income to unitholders every month. The month-by-month history — with period, amount per unit, payment date and DY — is in the table above.

What is GZIT11's dividend yield (DY)?

GZIT11's dividend yield is approximately 16.1% based on the income paid over the last 12 months.

Is GZIT11 high yield?

With a DY near 16.1% per year, GZIT11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.