The dividend distribution represents 100% of distributable income in line with Exemplar’s commitment to shareholders to deliver market-leading results. The company strives to ensure that distributable
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Rural and township retail experts,
Exemplar REITail, have declared a dividend of 64,27 cents for the six months
ended 31 August 2023.
With a core focus on the provision and management of retail
services to previously under-serviced regions across five provinces of South
Africa, the Exemplar portfolio currently consists of 26 retail assets with a
combined GLA of 414 420sqm and an additional 197 630sqm under
management.
Rental and recovery income before straight-lining adjustments is
up 24.4% on the comparative period.
The dividend distribution represents 100%
of distributable income in line with Exemplar’s commitment to shareholders to
deliver market-leading results. The company strives to ensure that distributable
income is closely matched by cash generated from operations and since its
listing in 2018 has paid out 100 percent of distributable income in all but one
dividend declaration.
Exemplar’s LTV remains virtually unchanged at 36.5% with NAV per
share at R14,34. The weighted average anchor trading density has increased by
3.9% and the portfolio vacancy rate is 3.36%.
“These results speak volumes when considering the current economic
circumstances as even essential retail tenants are starting to feel the effects
of the pressure on consumers,” explains CEO of Exemplar, Jason McCormick.
“The release of these results coincides with an exciting growth
period for Exemplar as we look to finalise a potential capital raise and
continue on our journey of development and acquisitions within the REIT.”
The company recently broke ground on its next development in the
Eastern Cape, Mbhashe Mall in Idutywa. The mall will be a single-level,
double-anchored enclosed mall, with its first phase spanning almost 19 000sqm.
“With a number of our own developments in the pipeline as well as
the potential of several acquisitions, we are confident that Exemplar will
continue on its growth trajectory”, ends Jason.
04 Nov 2024
31 Oct 2024
02 Oct 2024
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