Redefine changes payments | Fin24
  • New Notes

    Long queues have formed in Harare after Zimbabwe released new bank notes and coins.

  • Open Book

    Former President Jacob Zuma says the public protector can access his tax records.

  • Electricity

    Sowetans should pay rate of R150/month to foster a payment culture, says an ANC councillor.


Redefine changes payments

Jan 31 2011 20:34
I-Net Bridge

Company Data


Last traded 8
Change 0
% Change 2
Cumulative volume 4223160
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Redefine International hungry for deals

Hyprop soars on bid for rival

Redefine renews cautionary

Hyprop in R8.986bn bid for Attfund

Redefine group expands in Germany

Redefine acquires London hotels

Johannesburg - Property fund Redefine Income Fund [JSE:RDF] announced on Monday after its annual general meeting that unitholders passed a resolution to change the frequency of income distributions from quarterly distributions to semi-annual distributions in respect of the six months ending February and August of each financial year.

"The resolution requires the debenture trust deed to be amended, and Redefine's first quarter distribution for the three months to 30 November 2010, scheduled to be announced on 2 February 2011, will still be distributed. The next distribution will be in respect of the three months ending 28 February 2011 and thereafter, for the six months ending 31 August 2011," it said in the statement.

Redefine financial director Andrew Konig said unitholders will benefit because the company will earn interest on surplus cash, which will result in additional income to distribute to unitholders.

"In the 2011 financial year, this will translate into an additional R10m, and in 2012 it will provide approximately R20m in additional income.

"In addition, having non-recurring income spread over a six month period will result in more consistent and predictable distributions that our unitholders can depend on," he said.



Read Fin24’s Comments Policy publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
1 comment
Comments have been closed for this article.

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote