Property developers Attacq paid its directors 18 percent more to R24.23 million in the year to June 30, more or less in line with group performance. File picture: James White

CAPE TOWN – Property developers Attacq paid its directors 18 percent more to R24.23 million in the year to June 30, more or less in line with group performance, its latest annual report shows.

In the past year, the group paid three executive directors a total of  R14.9m, while the rest of the directors were paid R9.6m, up from 2018 remuneration where two executive directors were paid R6.2m, while the other directors were paid R14.2m, (although there were two directors more than in 2019.)

Attacq said the increase paid to directors is broadly in line with the group’s performance – distributable earnings per share growth 94.4c in 2019 was 17 percent higher than 80.7c in 2018. Dividend per share growth of 10.1 percent was above guidance of 7.5 to 9.5 percent. The group is hoping for a dividend per share growth of 8 to 10 percent in the new financial year.

The group's focus is on its key drivers, which include: the South African property portfolio development at Waterfall, Johannesburg; investment in MAS Real Estate, which has a portfolio of properties in central and eastern Europe; and retail property investment in other African countries.

Attacq is the only property company in the FTSE/JSE Responsible Investment Top 30 Index, which is the preferred instrument for fund managers tracking ESG (environmental, social and governance) indexes, as the premier stocks in this index are more liquid and therefore easier to trade. 

These are linked to the reputable FTSE4Good Index series, in turn designed to measure the performance of companies demonstrating strong ESG practices. Attacq listed in 2013 and made its first FTSE4Good submission just two years later. 

In recent years, the company invested significantly in low-carbon energy installations to ensure security of energy supply and reduce operating costs. In total, these systems generate 7.2 percent of the group's electricity requirement, reducing the total electricity cost. The group said it has also invested substantially in water efficiency.

In its results released last month, Attacq reported a full year dividend per share of 81.5 cents, up 10.1 percent  from 2018, while exceeding guidance, it said.

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