Vunani Property full year distribution up 19.7% to 77.25c

Vunani Property Investment Fund CEO, Rob Kane.

Vunani Property Investment Fund (VPF) advised on Wednesday that the distribution per linked unit for the six months ended June 2013 will be 39.25c per linked unit‚ and 77.25c cents per linked unit for the 12 months to end-June 2013.

This represents a 19.7% year-on-year increase in distributions.

Vunani paid 38c per linked unit for the first six months ended December 2012‚ 33.97c for the six months to June 2012 and 64.51c for the 12 months to 30 June 2012.

In a trading statement issued on May 31 2013 the company said it anticipated that the distribution per linked unit for the six months ended June 2013 would be between 36.5c and 38.5c‚ and for the 12 months ended June 2013‚ between 75c and 77c.

It said the increased distribution was a result of tight management of existing assets and yield accretionary acquisitions. Management believed these factors would continue to have an enduring and sustainable impact on future distributions‚ it said.

The company’s results for the year ended June 2013 will be released on or about August 26 2013.