THE real estate investment trust Resilient increased total distributions for its financial year by 25.1%, thanks to the effects of capital raising, a solid performance from its property portfolio and a weaker rand.In the year to end-June 2016, Resilient declared a final dividend of 256.27c, bringing the total dividend to 488.73c. Net rental income grew 7.4% despite increased operating costs and refurbishment expenses."In an economy characterised by low growth, Resilient’s property portfolio performed well. The performance was again mixed with a wide disparity between provinces and malls. Malls affected by mining and resources, particularly platinum mining, showed some recovery," it said.Overall performance was boosted by dollar income from offshore investments.Resilient holds stakes in Fortress Income Fund, New Europe Property Investments, Rockcastle, Hammerson and Greenbay. It is also the 60.94% partner of the Resilient Africa joint venture for the development of malls in Nigeria.R...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.