Hyprop declares 262c interim dividend
Property company Hyprop on Monday reported strong return growth with an interim dividend of 262c a share for the six months to December 31, an increase of 13.7% on the previous year.
Hyprop CEO Pieter Prinsloo stated that the total return for the six months was 25.9% and Hyprop’s revenue and distributable earnings from investment property grew by 11.1% and 13.2%, respectively.
Retail vacancies increased marginally from 1.2% in June 2014 to 1.4% in the six months to December.
The office portfolio vacancies reduced to 6.6%, from 13.8% in June 2014, owing to new lettings at Lakefield Office Park and Canal Walk offices.
Looking to the full financial year, Hyprop expected dividend growth of between 12% and 15%.
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