Dipula Income Fund’s investors will need to remain patient before the SA-focused company achieves dividend growth that beats inflation . CEO and founder Izak Petersen said the real estate investment trust’s dividend payouts, which grew about 4.5% in the year to August 2018, would taper off in the 2019 financial year before gaining momentum again in 2020. Petersen said the company’s decision not to invest offshore but rather to spend its capital on enhancing its assets at home had paid off in 2018 while competing funds struggled to reward investors with strong dividend growth. The real estate investment trust grew its A-share dividend by 4.5% and its B-share dividend rose 4.4% while its portfolio’s value increased by 25%. Rival funds saw their dividends grow by only 1%-2% or even shrink this reporting season. Petersen said he was happy to at least have grown dividends closer to inflation, which was hovering just below 5%, as market conditions were “extremely challenging”. “We have gr...

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