Hybrid property group Greenbay aims to grow dividends by as much as 25% per year over the next three financial years, it said on Wednesday. Such dividend growth is based on the assumptions that a stable global macroeconomic environment will prevail, there will be no failures of listed real estate or infrastructure investment, that no further direct property and infrastructure investment will be made, and that the additional investment in listed securities will be funded by debt, among other things, the company said. Greenbay’s strategy is to invest in direct property and infrastructure assets as well as in listed real estate and infrastructure securities. Greenbay, which is listed in Mauritius and on the JSE, intends to declare a dividend of 0.236 euro cents per share. Fayyaz Mottiar, head of listed property at Absa Asset Management, said Greenbay was a very exciting investment. “These guys are excellent operators. Their gearing is very low at 10% and they have an excellent balance ...
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.