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.