Indluplace increase dividend by 5.6%‚ in line with guidance

Indluplace‚ the first focused residential real estate investment trust to be listed on the JSE‚ reported on Wednesday, 8 November, that its full-year dividend rose 5.6% to 97.75c‚ which was in line with its guidance.

The company uses dividend per share as its key performance measure as it considers it a more relevant performance measure than earnings or headline earnings per share (HEPS).

Since listing in 2015‚ Indluplace has grown its portfolio by more than 85% to 6‚859 residential units and 14‚800m² of associated retail space‚ valued at about R2.9bn‚ according to the results statement.

Vacancy rates for the year to end-September held steady at 3.5%. Operating costs have increased from R130.6m to R153.3m‚ which is in line with the increased property portfolio.

The company forecast dividend growth of between 4% and 7% for the 2018 financial year.

The share price was relatively flat at R9.49 in early trade on the JSE‚ giving the company a market valuation of R3bn.

Source: BDpro