Redefine Properties, the Real Estate Investment Trust, said in a trading statement on Friday it would declare a dividend of 60.12 cents per share for the year to August 31, 2021 – for the 2020 financial year, no dividend was declared.
It declared a 48 cents dividend in November 2019.
The dividend would represent a pay-out ratio of 100% of the distributable income of 52.96 cents per share for the 2021 financial year, and included an additional 7.16 cents per share which related mainly to taxable unrealized foreign exchange gains due to the appreciation of the rand, which was non-recurring.
The results are expected to be published on November 8, 2021. The share price fell 3.04% to R4.29 at the close of trade on the JSE Friday.
