Indluplace upbeat about residential property

Indluplace Properties Limited, the JSE’s only residential focused REIT, today declared a cash dividend of 23.25 cents per share for the quarter ended 30 June 2016. This brings the dividends declared thus far this year to 69,26 cents per share, on track to meet guidance of 92,55 cents per share for the year to end September 2016.

“Indluplace pays quarterly dividends and the current share price represents excellent value for investors. We have indicated that first full year dividends will exceed our listing forecast by more than 10%. Our portfolio is now valued at R2,3bn and is performing as expected, with an increasingly diverse residential portfolio across building types, income levels and locations. We remain very positive about the residential market in South Africa,” commented Carel de Wit, CEO of Indluplace.