Newly listed Exemplar declares maiden dividend
Just three months after it listed on the JSE, the rural real estate company has given shareholders the first fruits of its initial harvest
Exemplar, the rural retail real estate company that listed in June, has declared a maiden dividend of 19.10c per share for the three months to August, rewarding its initial investors. The McCormick Group, a well-known rural real estate developer, listed Exemplar with assets of about R5.1bn. Exemplar is run by CEO Jason McCormick, whose family’s company has been a developer in SA for about 35 years, creating and managing rural and semi-urban retail centres. The fund’s properties were all developed by its biggest shareholder, McCormick Property Development (MPD). McCormick said MPD continued to develop a significant pipeline of greenfields projects which, if disposed of by MPD, would be offered to Exemplar on a right-of-first-refusal basis.
“This access to a pipeline of value- and yield-enhancing properties is a key differentiator for Exemplar and will contribute to the company’s objective of growing its base of quality assets, earnings and distributions, thereby improving share...
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.