Arrowhead Properties’ dividend shrinks by nearly a third as investments disappoint

Arrowhead Properties, the diversified property company which was listed in December 2011 by late real estate veteran Gerald Leissner, has released the worst results in its history, with its dividend falling nearly a third in the six months to March.

"The board is satisfied that the issues identified have no financial implications for the company and in no way go to the content or integrity of the company’s financial results," said Arrowhead in a Sens statement. Its directly owned 49 South African commercial properties achieved net income growth of 2.75% before gearing.

Arrowhead declared a dividend of 27.80c for the six months to March 2019, 31% lower than the 40.43c it declared in the six months a year before.

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