Arrowhead posts 6% dividend growth for FY17, downgrades 2018 forecast

JSE-listed real estate investment trust (Reit) Arrowhead Properties on Wednesday posted a 6.02% growth in dividend to 87.52c a share for the financial year ended September 30, in line with its forecast. However, Arrowhead is forecasting a 6.5% reduction in dividend growth for the 2018 financial year, as the impact of a volatile and deteriorating operating environment bites, sending the company’s shares plunging over 10% on the Johannesburg bourse on Wednesday morning.