NSLU11 Dividends — income history

When does NSLU11 pay the next dividend?

• 2026-06 — Wait for dividend declaration for May/2026 or June/2026 competency period: May/2026 Monthly Report (ID 1220773) recorded zero declared dividends. The fund holds R$ 8.39M in cash and R$ 2.44M in accounts receivable (May/26 rent + agreement installment). The declaration for May/2026 is expected a
• 2026-04 — Residual receipt from escrow deposit (~R$ 2.4M): Pending withdrawal of R$ 2.4M in residual escrow deposits. Once received, it may generate a small extra distribution of up to R$ 1.85/unit.
• 2026-04 — IPCA rent adjustment (annual in April): 12-month accumulated IPCA adjustment (Apr/25 to Mar/26 ~4.1%) applied to base rent of R$ 1.84M and agreement installment of R$ 605k. Monthly revenue rises to ~R$ 2.54M.
• 2026-12 — Possible property reassessment in closing appraisal: Next annual Binswanger appraisal may revise upward if Selic falls per curve. Current 10.5% cap rate could compress to 9.5% if Selic hits 11% — book value per unit would rise to ~R$ 195.
• 2034-10 — First rent review window: After 9 years without review (until Oct/2034), the parties may renegotiate the rent amount. Outcome depends on the period's hospital real estate market.

Income analysis

Following the Rede D'Or agreement, DPU enters a stable IPCA-adjusted regime. Upcoming catalysts are one-off (residual receipt of R$ 2.4M and April IPCA adjustment) — there is no sustained growth thesis.

Are the dividends sustainable?

The dividend is sustainable for 30 years under the atypical lease with Rede D'Or. The May/2026 Monthly Report (ID 1220773) brought a surprise: no dividend declared for the May/2026 competency period — 'Distributable Income: R$ 0.00'. Contractual revenue of R$ 2.44M/month is in cash (Accounts Receivable of R$ 2.44M intact), but was not formally transferred for distribution. Cash of R$ 8.39M in Fixed Income is robust (≈3.8× the monthly DPU). The most likely explanation is waiting on the residual escrow withdrawal (~R$ 2.4M) for a pooled distribution. The Rede D'Or lease remains intact — 30-year structural sustainability has not changed, but payment calendar predictability caused noise in May/2026.

Distribution guidance

For next 12 months, the manager projects a distribution of R$ 1.65 to R$ 1.85 per unit per month.

Dividend yield projection

Current DY (12m): 16.07% · Projected DY: 11.4% · reference price R$ 171.08

Will NSLU11 keep the dividend?

Recurring DPU of R$ 1.72/unit (Apr/26 — last declaration). May/2026 without dividend declaration.

12-month average payout of 1.04% · burn of R$ 0 per unit per month.

NSLU11 dividends in 2026

In 2026 NSLU11 paid R$ 30.38 per unit across 6 periods, averaging R$ 5.06 per month.

NSLU11 dividends in 2025

In 2025 NSLU11 paid R$ 27.58 per unit across 12 periods, averaging R$ 2.3 per month.

NSLU11 dividends in 2024

In 2024 NSLU11 paid R$ 18.75 per unit across 12 periods, averaging R$ 1.56 per month.

NSLU11 dividends in 2023

In 2023 NSLU11 paid R$ 18.55 per unit across 12 periods, averaging R$ 1.55 per month.

NSLU11 dividends in 2022

In 2022 NSLU11 paid R$ 10.69 per unit across 9 periods, averaging R$ 1.19 per month.

NSLU11 dividends in 2021

In 2021 NSLU11 paid R$ 22.43 per unit across 12 periods, averaging R$ 1.87 per month.

NSLU11 dividends in 2020

In 2020 NSLU11 paid R$ 25.19 per unit across 12 periods, averaging R$ 2.1 per month.

NSLU11 dividends in 2019

In 2019 NSLU11 paid R$ 19.75 per unit across 12 periods, averaging R$ 1.65 per month.

NSLU11 dividends in 2018

In 2018 NSLU11 paid R$ 19.13 per unit across 12 periods, averaging R$ 1.59 per month.

NSLU11 dividends in 2017

In 2017 NSLU11 paid R$ 18.54 per unit across 12 periods, averaging R$ 1.54 per month.

NSLU11 dividends in 2016

In 2016 NSLU11 paid R$ 3.0 per unit across 2 periods, averaging R$ 1.5 per month.

Payout by half-year

Frequently asked questions

What was NSLU11's latest dividend?

The latest income announced by NSLU11 was R$ 2.55 per unit, paid on 2026-08-20.

Does NSLU11 pay monthly dividends?

Yes, NSLU11 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 NSLU11's dividend yield (DY)?

NSLU11's dividend yield is approximately 14.04% based on the income paid over the last 12 months.

Is NSLU11 high yield?

With a DY near 14.04% per year, NSLU11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.