The days of Fortress dominating its rivals may be coming to an end as the company’s dividend growth tapers off. The largest owner of logistics assets in South African listed property grew its B-share dividend 14.61% in the six months to December, in line with forecasts, but its guidance for the 2019 financial year was only 11%. Fortress released financial results for the half-year to December on Friday, declaring a dividend of 71.20c per share, up from 67.96c per share. The share price was exceptionally volatile on Friday having been down as much as 19% in the morning. By late afternoon, it was up 5.6% but it ended the day 6.19% down. Bridge Fund Managers chief investment officer Ian Anderson said the market had expected dividend growth of about 17% for the 2019 financial year and close to 20% for 2020. "Investors have become accustomed to Fortress achieving dividend growth that was often double that of other real estate investment trusts. "Now, 11% is close to what some of its peer...
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