Texton Property Fund, which has been one of the weakest performers in listed property over the past two-and-a-half years, says a fresh executive team and patience will see it reach the returns that it originally promised investors. The diversified property real estate investment trust (Reit), saw its dividend per share fall 0.8% in the year to June. But after rebasing, the dividend declared showed growth of 6% compared with the rebased dividend reported in the previous year. Net property income improved 10% from R400.7m to R440.8m. Texton’s share price hit a high of R12.14 on March 6 2015. It closed 3.42% higher at R7.55 on Monday. This means the price has lost nearly 38%.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now