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Exemplar REITail declares a 51.5% interim dividend increase for the six months ended August 2022

KwaBhaca Mall in the Eastern Cape.

Rural and township retail experts, Exemplar REITail, have declared an interim dividend of 68.71483 cents per share for the six months ended August 2022 – an increase of 51.5% on the comparative period (45.34446 cents per share) with 97.9% of distributable income distributed.

The REIT also reported an 8.54% increase in its weighted average anchor trading densities to R4 714 per square metre and a 6.4% increase in basic rental. Its loan-to-value (LTV) sits comfortably at 34.8% with its net asset value (NAV) per share at R12.60.

These results are reflective of the stability of the Exemplar portfolio and the potential it holds for prospective shareholders as we look to increase liquidity to accelerate our next phase of growth,” explained CEO of Exemplar, Jason McCormick. “We remain confident in the strength of the township and rural retail space.”

Exemplar has expanded its focus on the acquisition, ownership, and management of assets in this space to encompass development. The company opened KwaBhaca Mall in Mt Frere, Eastern Cape, at the end of October 2022, its first asset to be developed within the REIT and spans 18 829m2. The double-level mall is the first of two developments undertaken by Exemplar, with Bizana Walk, also in the Eastern Cape, expected to open before the end of the year.

We are confident that the move to develop carefully selected assets within Exemplar, along with our continued focus on the roll-out of environmentally responsible practices such as wastewater management and rooftop solar PV systems within our existing portfolio will continue to provide solid results and market-leading dividend distributions,” concluded Jason.

The REIT’s share price has risen by 26% over the past six months.