Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Grit Real Estate Income Group Ltd - Pan-African property investment and management company - Net asset value grows annually as cites inflation-linked contracts. In the financial year that ended June 30, net asset value grows 4.1% to 79.4 US cents from 76.3 US cents a year prior. Raises total return target to between 13% and 15% per year from 12%. Declares total financial year dividend of 4.50 US cents, tripled from 1.50 US cents a year ago. Notes that inflation-linked contracts will support growth of revenue as they offset the impact of rising interest rates. The firm adds that it will begin a share buyback worth up to $400,000 per calendar month in line between November 15, 2022 and May 15, 2023 to support liquidity.
Current stock price: 33.85 pence, up 7.4% on Friday
12-month change: down 3.3%
Copyright 2022 Alliance News Limited. All Rights Reserved.