Resilient: Distributions to rise at least 17%

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The Resilient Property Income Fund expected its distribution a linked unit for the six months to December last year to be 17 percent to 19 percent higher than a year earlier, the listed property company reported yesterday. It said the variance was because of turnover rent exceeding budget and the weaker rand, which had a positive impact on dividends from foreign investments. In August last year, it posted a 12.83 percent growth in distribution a linked unit to R1.3623 for the first six months to June; it also forecast distributions for its 2014 financial year would rise 12 percent to 16 percent. It will publish its annual results on February 5. The linked units rose 1.89 percent to close at R55.02 yesterday. – Roy Cokayne


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