For many years, South Africa’s listed property stocks consistently rewarded investors with attractive and inflation-beating dividend growth.
Dividend growth of 4%, which is in line with inflation, is now the expectation as low economic growth and poor business and consumer confidence continue to erode the profits of property companies. Both are operating in an environment that faces an oversupply of office and retail space, and fewer businesses that are renewing their leases for longer periods and at higher rental rates. This is starting to reflect in their dividend growth forecasts for 2019.Business Maverick’s
Underscoring this is the performance of Redefine’s R72.9-billion property portfolio of retail, office and industrial properties that are based in South Africa. Its flagship properties include Blue Route Mall in the Western Cape, and Centurion Mall and East Rand Mall in Gauteng.Redefine’s rentals across all subsectors of the market recorded negative reversions on lease renewals for the six months to February 2019.
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BUSINESS MAVERICK: Erik Venter leaves Comair on a high and profitable noteDespite dismal trading conditions in SA’s airline industry, Comair has enjoyed an unbroken record of profit since its inception 73 years ago. The JSE-listed company, which operates low-cost brand kulula.com and British Airways under licence, has also consistently rewarded shareholders with dividends. The shocking resignation of its long-time CEO has left analysts wondering who can fill his big shoes.
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Business Maverick: Global bond rally drives Treasury Yields to lowest since 2017The US-China trade conflict and cracks in the global economy are herding investors to the safest parts of financial markets, pushing yields to multiyear lows and strengthening bets that the Federal Reserve will cut interest rates in 2019.
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Business Maverick: US charges Assange with new Counts of espionage violationsWikiLeaks founder Julian Assange was indicted on additional charges unsealed Thursday accusing him of violating the Espionage Act by engaging in a wide-ranging effort to obtain classified information about the Iraq and Afghanistan wars and other matters.
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Business Maverick: This week in the world economy and what it meansThe escalating trade war between the US and China drew fresh headlines this week as economists start to hit the panic alarm over what it may mean for the global economy. Here’s our weekly review of the world economy and the lessons learned.
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BUSINESS MAVERICK: SA Reserve Bank holds rates, signals a cut on the horizonThe South African Reserve Bank kept the repo rate, the main lending rate, on hold as expected at 6.75% on Thursday. Two out of five members of the Monetary Policy Committee voted for a cut, and the statement signalled the next move will likely be downward. This is largely because the deplorable state of the economy has put a lid on any demand pressures that could reignite inflation.
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Business Maverick: Liquidity risks haunts China’s fast-growing bond marketsJust as Beijing is opening up to outsiders its byzantine regulatory framework and patchy trading volumes could cause a shock in the country’s debt market. But pravingordhan must be held account him and PresJGZuma there is no difference all have violated the constitution. Pravin is not above the law. Did u get that clear?
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Business Maverick: After gobbling up Lonmin, the Sibanye juggernaut rolls onSibanye-Stillwater and Lonmin shareholders on Tuesday 28 May 2019 approved a takeover offer by the former for the latter. This marks the end of one era in South African platinum as Lonmin, formerly linked to Lonrho, rides off into the sunset, with a history stretching back over a century. And a new era is in the offing, as Sibanye becomes the world’s largest primary producer of platinum group metals (PGMs), with an eye on expanding into battery metals.
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BUSINESS MAVERICK — INVESTMENT ANALYSIS: Beyond traditional investments: cranes, planes and rock ’n rollCranes, planes, and rock and roll don’t seem to quite fit into the world of hard-core investments, but you may already have them in your portfolio. What are they doing there?
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MTN's Nigeria listing is under investigation | IOL Business ReportMTN’s Nigeria listing is being investigated by local authorities, the latest in a series of disputes in the African wireless carrier's largest market. busrep Aag this Nigeria always on wrongs what's wrong actually
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