HYPROP Investments’ blue-chip retail property portfolio has helped to deliver double-digit distribution growth for the year to June, despite a weak economic environment. The company had produced consistent dividend growth and remained a reliable real estate investment trust for South African investors, analysts said on Friday. Hyprop declared a total distribution of 619.9c per share for the full year, up 14.2% on the prior year, with the dividend for the six months to June increasing 14.9% to 322.10c per share. CEO Pieter Prinsloo said various factors had contributed to the growth in distributable earnings including an 8.7% growth in distributions from the South African portfolio, additional income from acquisitions in Nigeria, Montenegro and Serbia, and the opening of Achimota Retail Centre in Ghana. Demand for retail space remained strong, with vacancies in the South African portfolio dropping to 0.8% from 1.3% in June 2015. "Vacancies in our office portfolio also improved to 4.5%...
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