Reit Redefine's income and dividends dip

Redefine Properties - the real estate investment trust (Reit) with a portfolio in South Africa and Poland totalling almost R100 billion - yesterday reported a 2.9% dip in its distributable income per share (DIPS) and dividend per share (DPS) for the full year ended 31 August, 2024.

- Suren Naidoo

This comes as high interest rates continue to hurt the listed property sector, and the SA economy still struggles to muster even 1% GDP growth. Redefine reported DIPS of 50.02 cents, compared to 51.53c in FY2023, while DPS came in at 42.52c versus 43.80c.

The Reit's board declared a final dividend of 22.25 cents per share for the six months ending 31 August, representing a dividend payout ratio of 90%.

Together with its interim dividend, the total DPS for the year came to 42.52c.