RESILIENT real estate investment trust (Reit) boosted its interim dividend 25.2%, thanks to strong performances from its domestic and offshore property investments, as well as the effects of capital raisings and the weak rand.The strong results for the six months to December reflected the effect of capital raisings, particularly a rights issue last June that reduced its cost of funding, the decline in the value of the rand and a solid performance from the property portfolio.Resilient invests in dominant regional retail centres with a minimum of three anchor tenants and then lets predominantly to national retailers. It achieved net rental income growth of 7.6% from its direct property portfolio of shopping centres, a strong return in a difficult retail environment in SA."Despite the challenging economic environment, Resilient’s portfolio of retail properties continues to perform well."Retail sales growth at Resilient malls is ahead of national retail sales growth and were ahead of th...
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