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Rockcastle recommends US4c distribution
The board of AltX-listed Rockcastle Global Real Estate Company said on Wednesday (14 August) it had proposed a distribution of 4 US cents per share for the six months to June.
Rockcastle‚ which was incorporated in Mauritius in March last year‚ has invested in predominantly retail assets in the developed markets of the USA‚ UK‚ Canada‚ Europe‚ Singapore‚ Hong Kong and Australia.
The company's cumulative distribution for the 15-month period ended June would be 8.56 US cents per share‚ it said.
Over the 15-month period‚ the company's portfolio performed in line with its forecasts and achieved an annualised yield of 7.9% based on the initial listing price of US$1 per share.
"The company's investments were made through a combination of direct holdings in shares or‚ where there were significant gearing and withholding tax benefits‚ through equity derivative instruments‚" Rockcastle said.
Earnings enchancing gearing has been used by the company since listing. The gearing ratio was 42.4% at the end of June.
Source: I-Net Bridge
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