Shares in Polish shopping centre group Echo Polska Properties (EPP) rose 3.79% to close at R17.82 after it said it expected to declare dividends of between 11.6 and 11.8 euro cents for the 2018 financial year. EPP said the dividend growth was based on the assumptions that a stable global and Polish macroeconomic environment would prevail, no major tenant failures would occur and that no new acquisitions or disposals would be implemented during the reporting period. EPP is the only property company listed on the JSE that is solely invested in Polish real estate. Its current strategy is to sell its office assets and invest only in retail property. During the year EPP sold three offices, A4 Business Park, West Gate and Tryton Business House, with a deal involving the three having been completed in December. Three more offices were in the process of being sold. Proceeds from the office disposals were used to fund retail acquisitions such as the M1 acquisition. EPP made distributable ear...
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.