6 May Redefine ups interim distribution

Redefine Properties raised its interim distribution to investors by 4% to 49.19c per share.

Distributable income in the six months to end-February grew 4.8% to R2.7bn, versus 8.6% a year before.

The real estate investment trust (Reit) — which invests in South Africa, Poland, the UK and Australia — said its property portfolio was worth R92bn at the end of the period, a marginal increase.

Redefine said it expects to maintain its 4% distribution growth rate for the full 2019 financial year amid ongoing uncertainty.

For a closer look at the numbers and the company's prospects Business Day TV sat down with Redefine Properties Financial Director Leon Kok.
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