Safari Investments RSA Limited (SAR), a REIT listed on the JSE, reports improved operational metrics and financial performance for the 12 months ending 31 March 2024.
Financial Performance
- Operating profit surged 7% to R302.6 million.
- Occupancy rate rose to 97.62%, with a minimal vacancy factor of 2.38%.
- SA REIT net asset value per share climbed 8.63% to R9.94.
Earnings and Dividends
- Earnings per share increased by 2.03% to 127.95 cents.
- Declared dividend of 31 cents per share, totaling 61 cents for the year.
- Despite revenue growth, distributable earnings dipped due to a prior period insurance payout.
Dividend Details
The company declared an interim gross dividend of 31 cents per share, down from 32 cents in 2023. For shareholders not exempt from dividend tax, the net dividend stands at 24.80 cents per share.
Key Dates
- Declaration date: 19 June 2024
- Last day to trade cum dividend: 9 July 2024
- Ex-dividend trading begins: 10 July 2024
- Record date: 12 July 2024
- Payment date: 15 July 2024
Director’s Note
The board emphasizes that full details are available in the reviewed consolidated interim financial results, accessible on JSE cloudlink and the company’s website.
Analyst’s Perspective
Analysts note Safari’s positive performance but caution investors to review comprehensive financial details before making investment decisions.
Conclusion
Safari Investments RSA Limited’s steady growth and dividend declaration reflect resilience amid economic shifts.
