Emira Property Fund says it has cleared the way for a return to positive growth in distributions, but will not announce a forecast for the 2018 financial year. The company declared a total dividend of 143.18c a share for the year to June, 2% down compared with the year to June 2016. It was in line with Emira CEO Geoff Jennett’s warning in 2016 the dividend would be affected negatively. "It was a challenging year. Nevertheless, we delivered results consistent with our market guidance. Emira produced solid metrics and made pleasing advances with several initiatives and innovations that have positioned Emira to renew its positive distribution growth trajectory," he said on Wednesday. "The South African operating environment has worsened and is set to remain tough, but Emira is now on a much better footing to move forward and increase its performance for investors." At year-end, Emira had substantially improved vacancies across its portfolio to 5.3%, from 7% at its December half-year. I...
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.