Equites reports strong interim performance, raises dividend 3.8%

Equites Property Fund Limited, a specialist JSE-listed logistics REIT, reported an interim gross dividend of 69.04215 cents per share for the six months ended August 31, 2025, a 3.8% increase from the prior year. The company reaffirms its FY26 distribution guidance of 140.62 – 143.29 cents per share, representing 5% – 7% growth. Net asset value per share grew by 2.7% to R16.93 from R16.49 at February 28, 2025.

Operational highlights include a 5.1% like-for-like portfolio rental growth and a 4.0% increase in valuations. The group's loan-to-value (LTV) ratio stands at 37.2%, with R3.4 bn in cash and unutilized facilities. Disposals of R0.7 bn were concluded, and the all-in cost of debt in SA decreased to 8.3%.

The company maintained operational momentum, closing six leases across approximately 107,000 m². Solar capacity reached 27.0 MW, and Equites achieved Level 2 B-BBEE with 78.0% black ownership. The vacancy rate was a low 1.5% at August 2025.