JSE-listed real estate investment trust Growthpoint Properties reported a 4.3% year-on-year increase in distributable income per share (DIPS) to 152.6c and a 3.8% increase in net asset value to R21.31 for the financial year ended June 30.
It also reported an increase in total dividend per share of 133.5c, up by 7.4% from 124.3c in the prior financial year. The payout ratio was 87.5% for the full financial year, up from 85% in the 2025 financial year.
Performance was led by continued improvement in Growthpoint’s South African portfolio that was achieved through strategic capital recycling and proactive cost containment, as well as a reduction in debt and finance costs in South Africa and another good performance from the V&A Waterfront.
The stronger rand and high interest rates were the main factors constraining the contribution of Growthpoint’s offshore investments, the company says.
“Growthpoint has delivered solid earnings growth through effective strategic execution and disciplined capital management. The balance sheet is robust with low gearing, strong liquidity and significant available funding. Growthpoint is well positioned for its next phase of growth,” says outgoing Growthpoint Properties Group CEO Norbert Sasse.
