LLR rewards investors
Ndaba Nkomo | Monday July 4, 2022 14:30
A final distribution of P28, 084,000 was declared, equating to 10.03 thebe per linked unit. The distribution comprises a dividend of 0.05 thebe and interest of 9.98 thebe per linked unit and compares favourably with the final distribution of 9.4117 thebe per linked unit declared in the prior financial year.
LLR CEO, Kamogelo Mowaneng commented:“ Despite ongoing macro-economic and sectoral challenges from the aftermath of the Covid-19 pandemic and notwithstanding current inflationary pressures and rising interest rates, LLR is delighted to declare a strong and sustained distribution for the 2022 financial year.
“The Company enjoys high occupancy rates in excess of 99% of gross lettable area and is in a healthy cash position with monthly collections in excess of 100% of amounts billed.
She added: “The total distribution for the financial year represents a 6,01% growth in year-on-year distributions to 18.41 thebe per linked unit. “The solid growth is attributed to interventions relating to excellent asset management, robust rental collection and cost saving initiatives that do not compromise on quality. Furthermore, it demonstrates the stable nature of LLR’s portfolio’s which is underpinned by our “Go-TO-Africa” strategy, of which our first transaction has been tabled for shareholder approval.”
The declared distribution will be paid to linked unit holders registered in the books of the company as at the close of business on Friday, 15 July 2022.
Electronic fund transfers will be dispatched to linked unit holders on or before 26 July 2022.
NDABA NKOMO works for The PR practice