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Newpark Reit raises dividend after headline earnings double

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The company aims to build a portfolio of high-quality property assets that can withstand tough economic times and offer good returns

Newpark, owner of the JSE’s office building in Johannesburg, more than doubled its headline earnings and declared an increased dividend, as it waits for opportunities to present themselves in the suppressed real estate market.

The real estate investment trust said on Wednesday its headline earnings per share surged 116.9% to 51.2c in its 2022 results, while its dividend grew 17.63% to 46.91c...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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