Atlantic Leaf: Focus now on dividend distribution

ATLANTIC Leaf Properties, which is listed on the Stock Exchange of Mauritius and has a secondary listing on the JSE’s AltX, indicated yesterday a clear intention to commence a dividend distribution programme in its 2015/16 financial year. Paul Leaf-Wright, the chief executive, said the board had decided against declaring a dividend for the year to February because the company was in its early stage of development, but a key objective of the company was to commence distributions to shareholders. Leaf-Wright said it was very pleased to have delivered adjusted earnings a share of 8.3 pence (R1.496) on a weighted average basis in the first full year of operation, which equated to a yield of 8.1 percent. Atlantic Leaf also concluded the acquisition of 30 percent of the Booker portfolio, comprising 30 commercial properties in the UK with a total value of about R1.5 billion. The firm’s shares on the JSE were unchanged from yesterday at R19.10. – Roy Cokayne