https://www.engineeringnews.co.za

Rebosis lifts distribution growth 11%

Rebosis CEO Sisa Ngebulana

Rebosis CEO Sisa Ngebulana

28th October 2015

By: Ilan Solomons

Creamer Media Staff Writer

  

Font size: - +

JSE-listed real estate investment trust (Reit) Rebosis Property Fund had declared a dividend of 57.95c a share for the six months ended August 31.

CEO Sisa Ngebulana noted that, combined with the distribution of 52.46c a share for the six months ended February 28, this amounted to a total distribution of 110.41c for the year, an increase of 11% on the prior year’s distribution.

This had also exceeded the 8% to 10% guidance provided by the Reit earlier this year and was based on a continuing strong performance on portfolio fundamentals, as well as increased income from acquisitions.

The company also lifted its distributable earnings to R572-million for the year under review, a 48.8% year-on-year increase in distributable earnings.

“I think this is an excellent set of results, particularly in this challenging market. We were able to ensure that our core portfolio delivered solid growth figures,” stated Ngebulana.

He attributed this success to the rental escalations on the buying of properties and the containment of operating costs.   

PROPERTY PORTFOLIO
At year-end, assets under management were valued at R9.8-billion compared with R7.6-billion in 2014. The value of the Rebosis’s investment property portfolio was R7-billion, up from R6.9-billion in 2014.

“Our effective 59% holding in Ascension and 62% in New Frontier Properties Limited represented listed property securities of R2.7-billion, which is an increase from
R598-million in 2014,” Ngebulana pointed out.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
Columbus Stainless
Columbus Stainless

Columbus Stainless, based in Middelburg, Mpumalanga, is Africa’s only producer of stainless steel flat products. In addition, Columbus is the only...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.046 0.783s - 122pq - 2rq
Subscribe Now