CAPE TOWN – Attacq, a South African-based real estate investment trust (Reit) lifted its full-year dividend per share by 10.1 percent to 81.5 cents for the year to June, exceeding the previously communicated guidance after its developments at Waterfall boosted results.
Attacq’s distributable earnings per share (DEPS) increased by 17.1 percent to R664.1 million (restated 2018: R567.2 million).
Included in the distributable earnings, is R89.5 million (2018: R46.7 million) of cash interest received from shareholder loans advanced to AttAfrica Limited.
Adjusting for this non-recurring item, distributable earnings grew by 10.4 percent.
Attacq’s performance continues to be underpinned by its quality South African portfolio, developments at Waterfall and its 22.8 percent shareholding in MAS Real Estate.
Attacq chief executive Melt Hamman said: “By combining living, working and lifestyle spaces, we have achieved a winning formula at Waterfall, the success of which is evident in the 13.1 percent increase in trading densities for the Mall of Africa as well as the exceptional interest from buyers for our first high-rise residential development, Ellipse Waterfall.”