Newpark REIT lowers interim dividend but raises full-year guidance

NEWPARK REIT, which owns four properties including the JSE Building, lowered its dividend 13.1% to 26 cents per share for the six months to August 31, but has raised its guidance for the full year.

- EDWARD WEST

THE Johannesburg Stock Exchange Building is owned by Newpark Properties, which lowered its dividend 13.1% to 26 cents per share for the six months to June.

The JSE-listed company said the dividend was declared after funds from operations per share (FFOPS) declined 24.5% to 26.80 cents from 35.50 cents. However, it revised upwards its FFOPS guidance for the full year to between 41.50 and 48.50 cents a share, with total dividends per share expected to be in line with the FFOPS.

Previously, the company had guided for FFOPS for the year to be between 39 cents and 46 cents.

The forecast was revised after taking into account the sale of the Crown Mines property at an assumed transfer date of November 30, 2025, improved revenue at 24 Central, and reduced property operating costs.