Resilient Property Income Fund lifts H1 dividend 16.3% to 185.62c

Resilient Property Income Fund (RES) has lifted its interim dividend to end December 16.3% to 185.62c from the year-earlier period‚ the investment trust company said on Wednesday.

The results were achieved against the background of disappointing gross domestic product (GDP) growth and electricity interruptions‚ it said.

Although performances varied widely‚ comparable retail sales growth of 8.8% was ahead of expectations.

In calculating this growth‚ Irene Village Mall‚ Jubilee Mall‚ Secunda Mall and Soshanguve Crossing were excluded as no comparative figures were available. Extensions to Circus Triangle‚ Rivonia Village and The Grove were also excluded.

The counter closed 0.47% firmer at R88.35 per share from a close of R87.94 on Tuesday‚ valuing the group at about R30bn.