Solid German assets boost Sirius dividend growth
The group has experienced strong growth for the past three years and wants to reward its South African shareholders who are seeking euro-denominated income
27 November 2017 - 10:12
German business park and self-storage asset owner Sirius Real Estate has increased its dividend per share to 1.56c from 1.39c for the six months to the end of September, a 12.2% rise from the same period a year ago. Sirius also temporarily raised its payout ratio of funds from operations from 65% to 75%. The group has experienced strong growth for the past three years and wants to reward its South African shareholders who are seeking euro-denominated income. Sirius’s share price is up more than 50% year to date. The group has benefited from accretive acquisitions and strong performing German assets.
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