🇿🇼ZimbabweSouthern Africa
Pfuma REIT declares maiden dividend, signals strong start on Victoria Falls Stock Exchange
via NewsDay Zimbabwe6 min read
Less than three months after its listing on the Victoria Falls Stock Exchange on February 6, the Pfuma Real Estate Investment Trust has declared a maiden dividend of US$446,719. This payout, covering the period from February 6 to March 31, translates to 0.0948 US cents per unit and signals early returns for investors and strong rental income performance. The dividend aligns with Pfuma's distribution policy, which mandates distributing at least 80% of net distributable income to unitholders, with the fund resolving to distribute 95% for the period. Launched by Arctic Blue Asset Management with an estimated initial asset value of US$23.74 million, the REIT's net asset value was recorded at US$46.87 million at the end of the review period, with net property income reaching US$316,582. The REIT's property portfolio includes Hogerty Hill Centre and Chegutu Retail Centre, with Cork Corner added upon listing. The fund expects to complete the acquisition of the Cork Road Quick Service and Casual Dining Centre in the second quarter of 2026 and has four pipeline projects planned for completion in 2026. Brokerage IH Securities noted favorable yields from the current properties, with Hogerty Hill at 6.6%, Chegutu at 10%, and Cork Corner at 7.8%, leading to an overall yield of about 7%.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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