Enhanced portfolio performance boosts Dipula’s first half

JOHANNESBURG, 14 May 2024 — Dipula Income Fund (JSE: DIB) delivered a healthy set of results for the six months to 29 February 2024, reporting improved operational and financial metrics, as well as strategic gains in a period that marked the first phase of its new solar photovoltaic initiative roll-out.

Dipula is a prominent, diversified, South Africa-invested REIT that owns a R9.8 billion portfolio of

Financial Mail - Dipula in demand as tills ring in townships

March 28, 2024

View article

Dipula Income Fund will buy a R425m property portfolio from Redefine, paying 75% in linked units and the rest in cash.

DIPULA AND REO’S INNOVATIVE APPROACH TO TENANT INSTALLATION FOR EOH GROWS A SUSTAINABLE FURNITURE INITIATIVE

JOHANNESBURG, SOUTH AFRICA, 11 March 2024 — Dipula Income Fund’s (JSE: DIB) new lease with EOH for the Montrose Place at Waterfall Park in Midrand’s Vorna Valley has led to an innovative and high-impact corporate social responsibility project. The entire 4,000qm building was fitted out by REO, using small contractors who not only completed the entire build

IMPROVED NUMBERS DRIVE DIPULA’S SOLID PERFORMANCE

Dipula Income Fund (JSE: DIB) delivered a defensive performance for the year ended 31 August 2023 with increased property values, higher occupancy levels and improved rental renewal growth.

Dipula is a prominent, diversified, South Africa-invested REIT that owns a R9.8 billion portfolio of 170 retail, office, industrial and residential rental assets countrywide. Convenience, rural and township retail centres comprise 64% of its

STRATEGIC UPGRADES ENHANCE DIPULA’S RETAIL ASSETS

Dipula Income Fund (JSE: DIB) is strategically refreshing a number of its retail assets to provide modern, accessible appealing shopping experiences for both retailers and customers. Its ambitious plans for advantageous upgrades and capital expenditure in its predominantly retail portfolio are already taking shape.
Dipula is a SA REIT (real estate investment trust) invested in a R10bn portfolio of 169 properties spanning one

DIPULA POSTS ROBUST HALF YEAR RESULTS DESPITE MACRO-ECONOMIC PRESSURES

  • NAV increased by 7% to R5.9 billion
  • Contractual rental income increased by 3% to R556 million
  • Net property income up 1% to R447 million
  • Distributable earnings of R257 million, down 7% mainly due to interest rate increases
  • 90% distribution ratio
  • New leases worth R120 million concluded
  • Lease renewals of R387 million concluded
  • Tenant retention rate of 91% (up from 78%)

GCR RATINGS AFFIRMS DIPULA’S ISSUER RATING OF BBB+ (ZA) WITH A STABLE OUTLOOK ON THE BACK OF GOOD OPERATING PERFORMANCE AND FINANCIAL DISCIPLINE

Tuesday, 18 July 2023

  • Long-term issuer rating of BBB+ (ZA) maintained with a stable outlook
  • Short-term issuer rating of A2 (ZA) maintained
  • Rating supported by consistent portfolio performance and maintenance of solid gearing and credit protection metrics
  • Improvement in financial flexibility
  • GCR expects

GLOBAL CREDIT RATINGS (GCR) UPGRADES DIPULA’S CREDIT RATINGS TO BBB+(ZA)/A2(ZA) ON SOLID PERFORMANCE AND IMPROVED FINANCIAL FLEXIBILITY

12 August 2022

  • Ratings reflect continued resilient performance and maintenance of solid credit protection metrics
    • LTV ratio remained between 37% and 40% for the period
  • Debt to EBITDA improved gradually from 4.8x in FY18 to 4.2x at H1 FY22
  • Net interest cover improved to 3.1x

ROBUST MANAGEMENT &amp BUOYANT PORTFOLIO SEES DIPULA GROW DISTRIBUTABLE EARNINGS PER B-SHARE BY 16.8%; REDUCE LTV TO 35.7%

17 May 2021

  • Distributable earnings up 8.5%
  • Distributable earnings per A-share up 2.9%
  • Distributable earnings per B-share up 16.8%
Contractual rental income up 1.8% Combined NAV per share up 4% to R10.59 Loan-to-value ratio decreased by 11% to 35.7% Interim dividend comprising 100% of distributable earnings declared

Page 1 of 13