Schroder European Real Estate Investment Trust (Sereit), a property group which gives SA investors exposure to Western European capital cities, has met its pre-listing dividend yield target thanks to strong acquisitions in France and Spain. Sereit acts as a rand hedge for SA investors. It promises consistent income payouts, instead of seeking market-beating capital growth. The company achieved a 5.5% dividend yield in the year to September. A dividend yield is the ratio of a company’s annual dividend to its share price. A high dividend yield indicates good financial health and confidence in a company paying out dividends. In a low interest-rate environment investors seek high dividend yields. Net profit increased 28% to €13.2m compared with €10.3m for the year to September 2017, results released on Monday showed. Total dividends of 7.4c per share were declared for the reporting period, reflecting a 42% increase on the full year 2017 dividend. “This has been another strong year that ...

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