Heartwood Properties, a leading property development company who are listed on the Cape Town Stock Exchange and specialise in commercial and warehouse buildings, today announced its audited financial results for the year ending February 2022 and declares its first dividend of R2 million payout to shareholders.

Since first listing in March 2018, the company has grown its share portfolio by 130% from R121m to R279m. Net asset value has grown by 68%, with share prices up to R1 per share from a listing price of 59c per share in 2018. This is also the first year that Heartwood is paying dividends to shareholders.

  • Occupancy rate: 100%
  • Portfolio value: R279m
  • Net Asset Value: R130m, growth 14%
  • Net Asset Value per share: R1.00, 12%
  • Loan to Value: 48%
  • Weight Average Lease Expiry: 5.12 years
  • Weighted Average Lease Escalation: 7,53%

“This consistent upward growth is very encouraging and shows investor confidence in this market is up. It also proves our innovative tenant shareholder offering is a favoured strategy for clients wanting to own their own premises. It’s also the first time, since listing, that we are paying our shareholders dividends. We have a policy of selling some assets after a 4–5-year initial period has been implemented, which then allows us to pay dividends,” says John Whall, CEO of Heartwood Properties.

Read Full Article by: Construction World (https://www.crown.co.za/construction-world/property/21056-ctse-listed-heartwood-properties-announces-audited-financials-and-declares-maiden-dividend-payout-to-shareholders)