RDI Reit, the UK arm of Redefine Properties’ new management strategy appears to be bearing fruit for shareholders after the company struggled to meet expectations for a couple of years. A number of critics have said Redefine should exit its RDI Reit investment, which currently sits at 29.62%, and re-invest the capital in eastern Europe. The company, which operates as a rand hedge for South Africans, declared a dividend of 2.7p per share, an increase of 3.8%. Net rental income increased 2.1% on a like-for-like basis. RDI sold low-growth assets then re-invested capital in properties that offered better growth prospects. CEO Mike Watters said RDI Reit had performed well in terms of dividend growth, as well as in decreasing the company’s exposure to debt. “I am very pleased with the progress against our strategic priorities contained in these results. We continue to deliver one of the highest yields on net asset value in the sector, with our performance underpinned by a strong balance s...

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