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.
Since listing in 2015 Indluplace has grown its portfolio by more than 85% to 6,859 residential units and 14,800m 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.