Equites releases its industry-leading results
Company plans to increase annual dividend as value of portfolio climbs nearly a fifth in six months to August
Equites Property Fund, the only listed specialist industrial landlord in SA, is on track to increase its dividend in the year to end-February, bucking the trend in a struggling sector in which its competitors have suspended income payouts thanks to Covid-19.
The company, which listed in 2014, has forecast that its dividend will grow 2% to 4% in the year to February. It is being rewarded for developing high-end logistics properties which blue-chip multinational tenants such as Puma, Simba and Shoprite want to use for decades to come.