JSE-listed Fairvest, which owns shopping centres in smaller towns and rural areas, has delivered inflation-beating dividend growth every interim period for more than six years. The group’s dividend grew 8.3% to 10.616c in the six months to December as it managed its way through a “bear property market”, CEO Darren Wilder says. Fairvest was on course to deliver dividend growth of between 8% and 10% for the full financial year to June, according to Wilder. Fairvest was the fourth-best performing property stock in terms of total returns, including share price and dividend growth last year, giving investors 25.7% back. Since joining at the end of 2012, Wilder and his team have turned around the fortunes of Fairvest, which had previously struggled with managerial changes. Wilder has re-positioned it as a lower living standards measure (LSM) retail landlord. The Fairvest property portfolio consists of 45 properties, with 241,214m2 of lettable area and is valued at R3.14bn. “We are a busin...

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