Fairvest, the owner of lower-end shopping centres in SA, is on track to deliver strong overall returns this financial year, says CEO Darren Wilder. The company grew its dividend per share 9.53% to 9.806c in the six months to December, results showed on Thursday. The group’s guidance had been to grow distributions between 9% and 10%. Fairvest has now achieved dividend growth close to or beyond 10% for five consecutive reporting periods. Wilder said Fairvest stood out because it can meet shareholder expectations in good and bad economic cycles. "Fairvest is a simple to understand property company and our goal is to provide our investors with consistent dividend growth. We don’t focus on growth for growth’s sake. We believe in this current environment that investors will appreciate a fund that meets its guidance," said Wilder. Fairvest was the best performing locally invested property stock in 2017, achieving a total return of 16.39%, said Garreth Elston of Golden Section Capital. Prop...
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