Resilient Property Income Fund: Distributions to rise at least 20%

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Resilient Property Income Fund had revised upwards its distributions forecast for its financial year to June, the listed property fund said yesterday. Resilient now anticipated its distributions would be between 20 percent and 21 percent higher than the previous year. Resilient changed its financial year end to June last year when it converted to a real estate investment trust. It declared a distribution a linked unit of R1.3623 for the six months to June last year and R1.5959 for the six months to December. It previously advised shareholders in February, when it released its interim financial results, that it expected distributions to increase by between 17 percent and 19 percent for the year. Resilient expects to publish annual financial results on August 5. Resilient rose 0.77 percent to close at R60.50 yesterday. – Roy Cokayne


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