Hyprop sees distribution growth double as European portfolio picks up

Shopping centre-focused real estate investment trust Hyprop reported strong double-digit growth in distributions for the six months to December, 31, owing to a solid performance from its local shopping centres and supported by the inclusion of distributable income from the newly acquired south-eastern European portfolio, which added R58.4-million to income. The inclusion further boosted the company’s dividend by 23.5c, with Hyprop declaring a dividend of 347.3c a share for the period, 16.6% higher than in the corresponding period in 2015.