Picture: THINKSTOCK
Picture: THINKSTOCK

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PROPERTY group Resilient increased its dividend payment for the six months to end December 25.2% to 232.46c per share, the group announced on Wednesday.

Of this growth, 7% was attributable to the effect of capital raising exercises, particularly the rights issue of June 2015, which reduced the cost of funding. A further 8% was due to dividends from Fortress B, which were ahead of budget, and New Europe Property Investments and Rockcastle, which benefited from rand depreciation.

Despite the challenging economic environment, Resilient’s portfolio of retail properties continued to perform well. Retail sales growth at Resilient malls were ahead of national retail sales growth, the group said.

Retail sales growth of 9.1% was achieved compared with the six months ended December 2014.

At 3.17pm Resilient shares were up 0.17% to R155.25.