S.Africa's Growthpoint Properties posts 10% slump in annual distributable income

Cushman & Wakefield

11/09/2024 06:59

JOHANNESBURG, Sept 11 (Reuters) - South Africa's largest
listed property group Growthpoint Properties  GRTJ.J  said on
Wednesday its full-year distributable income declined by 10%,
stung by high interest rates.
    Its distributable income per share (DIPS) - one of the
primary measures of profit in real estate investment trusts
(REITs) - fell to 141.9 South African cents per share in the
year ended June. 30, from 157.6 cents a year earlier.  
    The commercial property firm declared a final dividend of
117.1 cents down 130.1 from a year earlier.

 (Reporting by Sfundo Parakozov; Editing by Christopher Cushing)
 ((Sfundo.Parakozov@thomsonreuters.com;))