Rebosis Property Fund on Tuesday reported an increase in its first-half dividend, which it said was line with market guidance. The financial results were delayed by two weeks to afford interim CEO Sisa Ngebulana time to get up to speed with operational matters, after Andile Mazwai resigned less than a year into the job. Ngebulana is the founder of the company and served as CEO before taking up his non-executive deputy chairman role in October 2017. On Tuesday, the company said its A ordinary dividend grew 5% to 126.43c per share in the six months to end-February, from a year-ago. The ordinary dividend grew 4% to 63.23c per share. The market cheered the results, with the share price gaining as much as 6% to R8.47 in early trade on the JSE. The value in the underlying portfolio grew 17.9% to R18.9bn in the review period. The like-for-like growth in the underlying retail portfolio grew 7.1% year on year, 5.5% for the commercial portfolio and 7% for the industrial assets. Rebosis Proper...
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