SA CORPORATE REAL ESTATE PAYS OUT 75% OF DISTRIBUTABLE INCOME
Edward West
SA Corporate Real Estate, which owns
172 industrial, retail, commercial and residential buildings - mainly in the major metropoles, declared a 10.27 cents per share dividend for the six months to
June 30. The dividend was based on a 75 percent payout ratio, and no dividend was declared in the comparable period in 2020. The total portfolio, valued at R15.3 billion, includes a 50 percent joint venture in three Zambian entities with properties of R789.4 million, an 80 percent joint venture in The Fall Lifestyle Estate valued at R144.6m, and listed investments of R120.1m. Interim distributable income increased to R344.5m from R311.1m, or to 13.70 cents per share from 12.37 cents per share. Total net property income increased to R589.8m from R542.4m. Contracted and executed disposals came to R1.85bn. Traditional portfolio vacancies decreased to 3.6 percent from 5 percent in June 2020. Loan to value was static at 38.4 percent from 38.6 percent in 2020.
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BUSINESS REPORT
en-za
2021-09-17T07:00:00.0000000Z
2021-09-17T07:00:00.0000000Z
https://thestar.pressreader.com/article/281951725949827
African News Agency