Texton Property Fund declares further distribution after FY25 results

Texton Property Fund has declared a further Return of Contributed Tax Capital (CTC) of 63.87 cents per share, bringing the total distribution for the period under review to 163.87 cents per share, or R490 million. This follows a previous dividend of 20.13 cents per share and a Return of CTC of 79.87 cents per share.

The company's financial results for the year ended June 30, 2025, show property revenue of R259,921,000, a decrease of 4.76% from R272,904,000 in FY24. Distributable earnings for the period were R73,797,000, down 7.60% from R79,901,000 in FY24. Earnings per share reached 29.65 cents compared to a loss of 4.95 cents in the prior year, while headline earnings per share decreased by 75.8% to 0.61 cents.

Texton strengthened its balance sheet by completing the sale of three non-core assets for R364.3 million, which was used for debt reduction. The company also redeemed BREIT and SREIT shares, generating proceeds of $12.3 million and $3.1 million respectively, further reducing debt by R278.2 million.