Vunani Property Investment Fund: 15% rise in distribution a share likely

Vunani Property Investment Fund (VPIF) expected its distribution a share for the second half of its financial year to June to be about 15 percent higher than the previous comparable period, the listed property fund said this week. It said the second-half distribution was expected to be between 44c and 46c a share, up from 39.25c a year earlier. The interim distribution was 40c a share. VPIF also announced that Thando Sishuba, the head of Imperial Properties, had been appointed to the board and to the audit and risk committee and Nosiphiwo Balfour would sit on the board and chair its social and ethics committee. Portia Tau-Sekati, the chief executive of the property sector charter council, has resigned as a member of its audit and risk committee. The shares fell 2.06 percent to close at R9.50 yesterday. – Roy Cokayne