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Johannesburg - South Africa's largest listed property firm Growthpoint Properties [JSE:GRT] boosted its half-year payout to investors by 8%, as occupancy levels picked up due to improved economic conditions.
Growthpoint, which last week paid R4.9bn to buy a 50% stake in one of the country's major tourist attractions, said its payout to shareholders from rental income for the six months to end-December rose to 63.9c per linked unit versus 59.1c a year earlier.
Most South African property firms use linked units, which consist of a share and a debenture, or loans, which earn interest on rental income from the company's properties.
Growthpoint said it expects the full-year payout to be similar to that of the first half.
The company, which has assets in excess of R40bn, said during the period it sold five properties for R80m, realising a profit of R27.4m on cost.
Its linked units were 1.72% higher at R17.14 by 08:18 GMT, outperforming a 0.35% decline in Johannesburg's Top 40 index.
Growthpoint Properties Australia bought seven property assets for R1.2bn from Property Solutions Group.
Growthpoint, which last week paid R4.9bn to buy a 50% stake in one of the country's major tourist attractions, said its payout to shareholders from rental income for the six months to end-December rose to 63.9c per linked unit versus 59.1c a year earlier.
Most South African property firms use linked units, which consist of a share and a debenture, or loans, which earn interest on rental income from the company's properties.
Growthpoint said it expects the full-year payout to be similar to that of the first half.
The company, which has assets in excess of R40bn, said during the period it sold five properties for R80m, realising a profit of R27.4m on cost.
Its linked units were 1.72% higher at R17.14 by 08:18 GMT, outperforming a 0.35% decline in Johannesburg's Top 40 index.
Growthpoint Properties Australia bought seven property assets for R1.2bn from Property Solutions Group.
