Arrowhead Properties, the diversified South Africa-focused real estate investment trust (Reit) with property assets worth more than R11 billion, lifted its dividend per B share by 44.6 percent to 47.72 cents in the year to September 30. Photo: James White
Arrowhead Properties, the diversified South Africa-focused real estate investment trust (Reit) with property assets worth more than R11 billion, lifted its dividend per B share by 44.6 percent to 47.72 cents in the year to September 30. Photo: James White

SA-focused Reit Arrowhead Properties lifts final dividend and reduced gearing further

By Edward West Time of article published Nov 25, 2021

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ARROWHEAD Properties, the diversified South Africa-focused real estate investment trust (Reit) with property assets worth more than R11 billion, lifted its dividend per B share by 44.6 percent to 47.72 cents in the year to September 30.

The company, which is in the throes of a share swop merger with Fairvest Properties, owns R8.3bn of industrial, retail and office properties across all nine provinces. It also owns 61 percent of residential property group Indluplace and holds an 8.61 percent stake in Dipula Income Fund.

The dividend per A share increased 4.1 percent to 120.21c. The dividends represented a 100 percent payout of distributable earnings.

During the year 37 non-core assets were sold for R1.05bn at a 2.2 percent discount to book value.

Gearing reduced to 36.9 percent from 39.3 percent.

Active investment in solar power plants comprised 6.7 megawatts installed or under construction, with over 5 percent of the portfolio’s electricity requirement met at an annual yield of 19.8 percent.

Vacancies reduced to 8.4 percent compared with 8.6 percent in the prior year.

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