Dipula weathers ‘tough’ economic conditions to post 5.8% y/y growth in FY dividends

JSE-listed diversified real estate investment trust (Reit) Dipula Income Fund has “overcome tough macroeconomic conditions” to post a 5.8% increase in combined dividends a share for the financial year ended August 31, driven entirely by organic growth. The Reit’s revenue edged over the R10-billion mark, with the property portfolio valued at R6.9-billion at year-end. CEO Izak Petersen said ongoing focus on the Reit’s strategy of disposing of noncore properties, entering into quality-enhancing acquisitions and “sweating existing assets” enabled Dipula to continue performing well in a difficult trading environment.