ACTIVE ASSET MANAGEMENT
Solid Investec fund in Australia grows dividend
The company grew its dividends 6.2% in Australian dollars during its financial year to March
Investec Australia Property Fund has been a consistent performer since listing on the JSE three-and-a-half years ago, benefiting from the Investec group’s asset management structures in the country. The company grew its dividends 6.2% in Australian dollars during its financial year to March, results released on Wednesday showed. On October 24 2013 the company was trading at R9.80 and it closed at R13.24 on Wednesday, about 35% higher. "The fund’s performance is driven by the successful implementation of [its] strategy of acquiring properties with strong underlying fundamentals while also identifying opportunities to enhance yield and add value through active asset management," said CEO Graeme Katz. Investec Australia Property announced a final distribution of 4.93c per unit before withholding tax and 4.60c per unit post withholding tax. This brought the total distribution for the year to 9.74c per unit before withholding tax and 9.24c per unit after withholding tax. Nesi Chetty, hea...
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