Growthpoint declares interim dividend despite NAV decline

Growthpoint Properties Limited (JSE:GRTE) announced a 3.7% increase in its interim dividend to 61.0 cents per share, despite a 2.6% decrease in net asset value per share to 1 967 cps. This performance was driven by a 3.9% rise in distributable income per share to 74.0 cps and a 6.2% increase in SA net property income, which was up to R2.9 billion, bolstered by strong contributions from the V&A Waterfront. The SA REIT's loan-to-value improved to 40.8%, and the company has been actively divesting non-core assets, particularly in the office sector, with R589.4 million realized from recent sales. Growthpoint continues to invest in logistics and industrial properties while managing offshore exposure and focusing on environmental initiatives. The company has declared Monday, 14 April 2025, as the last day to trade cum dividend.