Vividend Income Fund full year distribution 50c

Posted On Friday, 25 October 2013 08:29 Published by
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Vividend declares a distribution of 50c per linked unit for the year ended August 31 2013 which is above forecast expectations.

Ari Jacobson

The fund‚ which recently successfully converted to a real estate investment trust (REIT)‚ had forecast a total distribution of 49.5c per linked unit.

Headline earnings per linked unit for the year were 54.22c versus 48.67c the previous year.

Revenue grew from R134.6m to R198.7m‚ with R401m in capital being raised via a combined claw-back and rights offer. The fund’s property portfolio has swelled to R2bn.

A total of R649m was invested in new properties during the year.

“We are medium-term builders and a sustainable path is in place with a forecast 50c for the year to August 2014 and from there we are comfortable to anticipate lease-related escalations in distributions into the future on our R2bn portfolio‚” said Vividend CEO Ari Jacobson.

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