Arrowhead Properties has declared a dividend of 20,875 cents per share for the quarter ended 30 June 2016, growth of 10% compared to the dividend declared for June 2015.
“Our portfolio is performing in line with expectations. Collections are satisfactory and renewal of leases and letting of vacant space have reduced vacancies marginally from 31 March 2016. Arrowhead is on track to meet its forecast distribution growth for the year to September 2016 of between 8 and 10%.”
“The Synergy/Vukile transaction is progressing well. This transaction will allow Arrowhead to move its smaller properties into a separate listed fund while retaining exposure to smaller, high yielding assets it knows and understands. Arrowhead will continue to focus on its portfolio of larger quality assets and corporate opportunities,” says COO of Arrowhead, Mark Kaplan.