AREIT PROP HAS DECLARED A MAIDEN QUARTERLY DIVIDEND OF 10.71 CENTS PER SHARE

RECENTLY listed aReit Prop declared a maiden quarterly cash dividend of

10.71 cents per share, after reporting a

100 percent increase in distributable profit for the three months ended March 31, 2022. The company, focused on hospitality and medical property sectors, said that in the first three months that it had earned revenue, net profit for the three months was up 654 percent to R17.08 million. “With a secure rental income, strong balance sheet and no gearing, aReit Prop has a solid base that will provide the ability to invest in various real estate sectors both locally and internationally through further leasehold and freehold property acquisitions, utilising both debt and equity associated with such acquisitions,” it said in a statement yesterday. “The group expects it will be able to add significantly to its property portfolio on a yield-enhancing basis for its investors over time.” |