Fairvest could deliver double-digit dividend growth in 2019
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...
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.