Hyprop Investments pleased investors by meeting its guidance, delivering 12.1% dividend growth in the year to June. The specialist shopping centre owner with a R36.8bn portfolio of premium shopping centres in SA, sub-Saharan Africa and southeastern Europe, declared a total dividend of 695.1c per share for the reporting period. The balance sheet was strengthened with a 5.6% rise in net asset value to R99.78 per share and a 6.1% decrease in loan to value to 28.1%. Its European portfolio was included for the first time for a full year. This helped drive distributable earnings up to R1.7bn, from R1.5bn at June 2016. Hyprop’s South African portfolio continued to perform well to withstand the recessionary economy, according to CEO Pieter Prinsloo.
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