FORTRESS Income Fund, the best-performing property fund of 2015, grew its B-unit dividend 101.2% in the six months to December, in a watershed period which saw it complete the takeover of Capital Property Fund.
CEO Mark Stevens said he expected to grow the B-unit dividend at 95% for the 2016 financial year overall, despite economic difficulties.
"We had a very good 2015. Turnover numbers at our malls were better than anticipated. Resilient REIT, in which we have a stake, fared better than anticipated. We were also helped by the weakening rand," CEO Mark Stevens said.
The dividend growth for the interim period attributable to the A share was calculated using data supplied by Statistics SA. The growth was 4.8%, being the lower end of the consumer price index, or 5%, and consequently the dividend for the A share for the period was 64.72c.
The dividend for the B shares was 62.81c.
Mark Stevens. Picture: RUSSELL ROBERTS
FORTRESS Income Fund, the best-performing property fund of 2015, grew its B-unit dividend 101.2% in the six months to December, in a watershed period which saw it complete the takeover of Capital Property Fund.
CEO Mark Stevens said he expected to grow the B-unit dividend at 95% for the 2016 financial year overall, despite economic difficulties.
"We had a very good 2015. Turnover numbers at our malls were better than anticipated. Resilient REIT, in which we have a stake, fared better than anticipated. We were also helped by the weakening rand," CEO Mark Stevens said.
The dividend growth for the interim period attributable to the A share was calculated using data supplied by Statistics SA. The growth was 4.8%, being the lower end of the consumer price index, or 5%, and consequently the dividend for the A share for the period was 64.72c.
The dividend for the B shares was 62.81c.
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