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Reit Redefine's income and dividends dip
The Citizen
|November 05, 2024
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.
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.
This story is from the November 05, 2024 edition of The Citizen.
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