Steadfast Arrowhead sets sights on double-digit dividend growth
Arrowhead Properties is likely to reach about double-digit dividend income growth in the next two years, as long as political and economic shocks do not persist in SA. This is according to Imraan Suleman the diversified company’s chief financial officer. Arrowhead holds 60% of Indluplace Properties, its JSE-listed residential subsidiary with a market capitalisation of R2.4bn, and 55% of Gemgrow Properties. Gemgrow is a high-yield, high-growth fund with a market capitalisation of R3.3bn. Arrowhead also owns 19% of Rebosis Property Fund as well as an 11% interest in Dipula Income Fund. The group managed to grow its dividend per share by 6.01% in the six months to March, in line with market expectations. It declared a dividend of 43.24c per share.
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