Tigere Real Estate Investment Trust paid a quarterly dividend of $519,100 on Tuesday and announced plans to acquire two income-generating properties before year-end. The Zimbabwe Stock Exchange-listed fund maintained 98.7 percent occupancy at its Highland Park Phase 1 development despite a planned tenant change.
Net property income climbed to $1.47 million for the three months ending on Sept. 30 from $1.28 million in the same period last year. Total comprehensive income reached $854,413 for the quarter, and net asset value stood at $34.03 million.
The trust issued a cautionary notice on Sept. 12 outlining expansion plans that require unitholder approval. Management attributed portfolio stability to diaspora inflows, institutional investment, and a strong tobacco auction season.
The real estate fund paid its 12th consecutive quarterly distribution since listing, and the eighth fully denominated in U.S. dollars. Management forecasts stable dividend growth for the remainder of the financial year.
Net property income climbed to $1.47 million for the three months ending on Sept. 30 from $1.28 million in the same period last year. Total comprehensive income reached $854,413 for the quarter, and net asset value stood at $34.03 million.
The trust issued a cautionary notice on Sept. 12 outlining expansion plans that require unitholder approval. Management attributed portfolio stability to diaspora inflows, institutional investment, and a strong tobacco auction season.
The real estate fund paid its 12th consecutive quarterly distribution since listing, and the eighth fully denominated in U.S. dollars. Management forecasts stable dividend growth for the remainder of the financial year.
