VRTM11 Dividends — income history

When does VRTM11 pay the next dividend?

• 2026-05 — VIUR11→TRXF11 capital gains in May/2026 results: Asset swap with TRXF11 (units + partial cash amortization) closed in April should generate capital gains in May/2026 results — can add a non-recurring R$ 0.01-0.02/unit.
• 2026-06 — Payment of H1 2026 Performance Fee (if achieved): If VRTM11 outperforms IPCA + IMA-B 5 in the half-year, the manager receives 20% of the excess. In 2025 this was R$ 871 thousand. May reduce distributions in Jul/2026 by up to R$ 0.01/unit.
• 2026-09 — Possible kicker unlocking via buybacks (Q3-Q4/2026): Alpha Houses I (3 deeds in progress, estimated R$ 150-200k/unit), Mirai Atibaia, and Gibran Building in the buyback phase. Latent kicker of R$ 0.091/unit — partial unlocking can add R$ 0.02-0.03/unit in an isolated month

VRTM11 dividend summary

• DPS atual: R$ 0,09
• Estável há: 18 meses
• Payout 12m: 96,5%
• Reserva/cota: R$ 0,063

Income analysis

DPU locked at R$ 0.09 is expected to persist for the next 12+ months. April/26 cash generation (R$ 5.48M) comfortably covers the R$ 4.23M distributed, with the excess going straight to reserves. Without a relevant drop in carry or credit, the level is defensible and could even rise occasionally.

Are the dividends sustainable?

The DPU of R$ 0.09 is sustainable with an 18-month track record unchanged. Accumulated reserves jumped to R$ 0.063/unit (~R$ 2.96M) in April 2026, a 70% growth in one month — concrete breathing room to defend the DPU in weak months. The 12-month payout of 96.5% still indicates the fund operates near the limit, but recent trends are constructive. Robust net cash (R$ 25.3M = ~6 months of distributions) guarantees operational margin in case of unforeseen events.

Distribution guidance

For 1st Half / 2026, the manager projects a distribution of R$ 0.085 to R$ 0.095 per unit per month.

Dividend yield projection

Current DY (12m): 14.65% · Projected DY: 14.65% · reference price R$ 6.45

Will VRTM11 keep the dividend?

12-month average payout of 0.965% · burn of R$ 0 per unit per month.

VRTM11 dividends in 2026

In 2026 VRTM11 paid R$ 0.63 per unit across 7 periods, averaging R$ 0.09 per month.

VRTM11 dividends in 2025

In 2025 VRTM11 paid R$ 1.08 per unit across 12 periods, averaging R$ 0.09 per month.

VRTM11 dividends in 2024

In 2024 VRTM11 paid R$ 1.07 per unit across 12 periods, averaging R$ 0.09 per month.

VRTM11 dividends in 2023

In 2023 VRTM11 paid R$ 0.12 per unit across 2 periods, averaging R$ 0.06 per month.

Payout by half-year

Frequently asked questions

What was VRTM11's latest dividend?

The latest income announced by VRTM11 was R$ 0.09 per unit, paid on 2026-08-14.

Does VRTM11 pay monthly dividends?

Yes, VRTM11 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 VRTM11's dividend yield (DY)?

VRTM11's dividend yield is approximately 15.13% based on the income paid over the last 12 months.

Is VRTM11 high yield?

With a DY near 15.13% per year, VRTM11 is in the high yield REIT range (above ~10% p.a.) — a level that usually comes with more credit or market risk.