June 30, 2020 / 5:24 AM / 17 days ago

BRIEF-Vukile Property Fund Posts FY HEPS of 116.92 Cents

June 30 (Reuters) - Vukile Property Fund Ltd:

* VUKILE PROPERTY FUND LTD - FY TOTAL REVENUE FOR PERIOD INCREASED FROM R2.8 BILLION AS AT 31 MARCH 2019 TO R3.4 BILLION

* VUKILE PROPERTY FUND LTD - FY HEADLINE EARNINGS PER SHARE AMOUNTED TO 116.92 CENTS PER SHARE

* VUKILE PROPERTY FUND LTD - DECISION REGARDING FINAL DIVIDEND WILL BE COMMUNICATED ON OR BEFORE PUBLICATION OF VUKILE’S AUDITED ANNUAL RESULTS

* VUKILE PROPERTY FUND LTD - BALANCE SHEET REMAINS SOLID AND BUSINESS IS VERY CASH GENERATIVE WITH HEALTHY INTEREST COVER RATIOS

* VUKILE PROPERTY FUND LTD - DOES NOT ANTICIPATE PAYING AN INTERIM DIVIDEND IN RESPECT OF FIRST HALF OF 2021 FINANCIAL YEAR

* VUKILE PROPERTY FUND LTD - EVEN THOUGH LTV IS CURRENTLY HIGHER THAN PREFERRED LEVEL, PLANS ARE IN PLACE TO REDUCE IT OVER TIME

* VUKILE PROPERTY FUND - INTENDS TO ADOPT A VARIABLE DIVIDEND PAYOUT RATIO GOING FORWARD AND WILL NO LONGER PAY OUT 100% OF DISTRIBUTABLE EARNINGS Source text for Eikon: Further company coverage:

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