Fortress Income Fund more than doubles its B-share dividend to shareholders in the six months to December.
As if on cue, shares in the suitably named Resilient REIT roared, entrenching themselves in the pound seat, after the firm churned out yet another bumper set of earnings numbers.
Property group Resilient says it increases its dividend payment for the six months to end December by 25.2% to 232.46c per share.
Resilient REIT, formerly Resilient Property Income Fund expects that dividend per share will increase between 24% and 26% for the six months ended 31 December 2015.
Until recently, Growthpoint Properties and Redefine Properties were the largest listed South African real estate groups, leaving institutional investors with limited choice.
The weeks-long relentless heat wave hitting South Africa provides a direct contrast to what is happening to the rand: a tsunami.
The biggest merger in the history of the South African listed property sector is going ahead, with Fortress Income Fund finalising the acquisition of Capital Property Fund.
South African listed property once again ranked high among the country’s top companies earning the most for shareholders.
While SA's listed property index is set to come under pressure during the rest of the year‚ certain companies are standing out as top performers.
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