Vukile Property Fund grew its dividend per share 7.5% in the six months to September, making it its 15th consecutive year of growth, as the company’s investment in Spanish group Castellana Properties boosted its overall profit. The company declared a dividend of 78.10c a share in line with guidance, results released on Thursday showed, while its Spanish exposure increased from €308m to €900m following the acquisition of five shopping centres during the period. It is the only JSE-listed South African fund with exposure to Spanish real estate. CEO Laurence Rapp said Vukile had invested aggressively in Europe’s fifth largest economy. At the end of September, 50% of the fund’s total assets were in Southern Africa and 50% were offshore. As much as 46% of the offshore assets were in Spain while 4% were in the UK, through Atlantic Leaf Properties. “We are delighted with our half-year progress and pleased to report another set of positive results that deliver on our promises and our strateg...

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