Emira Property Fund on Wednesday indicated some signs of recovery since decreasing its dividend payout in its 2017 financial year. Not only did it deliver a 2.5% increase in dividends, it entered the US, which is the world’s largest property market, becoming the first South African property company to do so. Emira declared a dividend per share of 70.65c and achieved compound annual growth in its net asset value of 6.7% per annum, results for the six months to December showed. This reporting period represented the first half of its 2018 financial year. CEO Geoff Jennett said the group now expected to deliver inflation-beating dividend growth in 2019 and beyond. "Despite persistently tough trading conditions, Emira has continued to strengthen our foundation of improved operating metrics. We have further re-balanced our portfolio out of underperforming offices and increased our exposure to alternative enhancing opportunities, including offshore investment and local residential property...
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