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Vukile delivers 7.7% full-year distribution growth with strong performance from its SA retail portfolio and its major expansion into Spain

Posted On Saturday, 02 June 2018 09:20 Published by
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Vukile Property Fund today reported 7.7% growth in dividends to 168.82 cents per share for the year to 31 March 2018 on the back of higher second-half distribution growth of 7.9%.

Laurence-Rapp

Vukile’s full-year returns are comfortably in the upper range of its market guidance and extend its 14-year track record of unbroken growth in dividends for investors. The JSE-listed REIT’s distributable income totalled R1.3bn and its net asset value increased 7.5% to 20.09 cents per share.

The impressive set of results reflect the solid operational performance driving Vukile’s core SA retail property portfolio, which produced good metrics in a relentlessly tough operating environment. It also showcases Vukile’s strong balance sheet, and entrepreneurial deal-making resulting in its landmark strategic international expansion in Spain.

Laurence Rapp, CEO of Vukile Property Fund, notes this has been a milestone year for Vukile, which now operates as a high-quality low-risk retail REIT in SA and holds 21% of its assets in Spain.