Emira Property Fund: diversification drives 3.2% increase in final dividend

EMIRA Property Fund declared a 3.2% higher cash-backed final dividend of 64.40 cents per share for the six months to September 3 due to steady outperformance of the South African assets and a robust performance from the US portfolio.

- EDWARD WEST

The South African Real Estate Investment Trust holds direct retail, industrial, office and residential property in South Africa and recently acquired a stake in REIT SA Corporate Real Estate. Internationally, it holds between 45% and 49% in 10 shopping centres with US partner The Rainier Group. In Poland, Emira has a 45% stake in DL Invest, a Luxembourg-based developer and investor in industrial and logistics centres, offices, and retail parks across Poland.

Net asset value per share increased 1.4% over the six-months. James Day, CEO, said the South African assets were supported by a stable and gradually improving environment, driven by steady interest rates, reduced load shedding, and moderate inflation. Additionally, Emira’s strong entry into the Polish real estate market was yielding returns.

“Our diversified portfolio of direct and indirect property investments supports resilient returns across market cycles. Emira continues to be well capitalised with a prudently managed financial position, and our capital recycling strategy continues to strengthen the balance sheet,” Day said.