Jump in In­vestec fund’s div­i­dend

Cape Argus - - BUSINESS -

LISTED In­vestec Prop­erty Fund re­ported 12.2% growth in dis­tri­bu­tions a share to 68.37 cents for the six months to Septem­ber from 60.91c in the prior pe­riod.

The in­terim div­i­dend in­cluded a one-off an­tecedent div­i­dend re­ceived from the In­vestec Aus­tralia Prop­erty Fund (IAPF), re­lated to the fi­nal sec­ond-half div­i­dend for its 2017 fi­nan­cial year that was re­ceived on shares sub­scribed for in IAPF’s rights of­fer in Fe­bru­ary.

On a nor­malised ba­sis, core year-on-year div­i­dend, a share growth was 7.2%. Rev­enue, ex­clud­ing straight-line rental rev­enue ad­just­ment, grew 9% to R888.5 mil­lion. – Roy Cokayne

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