Octodec Investments‚ which predominantly invests in the Johannesburg and Pretoria central business districts (CBDs), should bounce back with positive dividend growth of 4% in its 2019 financial year, says financial director Anthony Stein. The real estate investment trust’s dividend shrank nearly 3% in the six months to February 2018, with the group saying its dividend was affected by rental income coming under pressure as a result of the sluggish performance of the local economy and “the reduction in distributable income during the let-up phase of The Manhattan, One on Mutual and Sharon’s Place”. Sharon’s Place is a new residential development in the Tshwane CBD consisting of 400 units and ground-floor retail. Demand for units has been strong in 2018, with 90 having been sold in two weeks at the beginning of the year. Octodec declared a dividend of 101.7c per share for the six months to February 2018, compared with 104.8c per share in the comparative six months to February 2017. Fla...
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