INTERIM GROWTH
Dipula manages to lift earnings and dividends
Vacancies in the group’s R7bn portfolio remain stable but its office properties are struggling
Dipula Income Fund CEO Izak Petersen says being cautious in a tight economy continues to bear fruit for the diversified property group. The group reported strong interim growth, with a 9.5% increase in distributable earnings of R194m in the six months to February compared with the matching period a year ago. This resulted in a 6.3% rise in dividends per combined share to 92.49c for the reporting period, despite a limping economy. The company which has a market capitalisation of R4.8bn, managed to grow its dividends per share for A-shareholders 5% and 7.9% for B-shareholders. A and B shares accommodate different risk appetites. A-shareholders receive a preferred 5% growth in distributions while B shareholders receive the remainder. The group’s share prices have rallied in 2017 so far. Dipula’s A shares have risen 4% year to date while its B shares have increased 14%. Petersen said Dipula was successfully extracting value from its property portfolio through redevelopment initiatives t...
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.