Safari delivers bigger payday than forecast
Retail-focused property group is in talks to sell the Mnandi Shopping Centre and its sole Namibian asset
29 June 2023 - 12:07
Retail-focused property group Safari Investments reported higher-than forecast annual payout despite a bigger uptick in vacancies, thanks to a jump in operating profit and insurers settling insurance claims related to Covid-19 and riots.
The company, which is valued at R1.4bn on the JSE, declared a 14% increase in distribution to 65c a share for the year to end-March — a payout ratio of 100% — while operating profit rose 15.4% to R282.8m...
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