Gemgrow delivers expected dividend growth for FY18

In line with guidance set, JSE-listed real estate investment trust Gemgrow Properties delivered dividend growth of 5% year-on-year to 106.91c apiece for A shares and 7% year-on-year to 78.7c apiece for B shares, for the financial year ended September 30. The company on Wednesday reported a distributable income of R369-million, compared with R323.7-million in the prior financial year. Gemgrow declared a 101.87c apiece A share dividend and a 73.51c apiece B share dividend in 2017.