Arrowhead A-Linked units participate in distribution growth sooner than anticipated
Arrowhead, the only JSE listed property company to pay quarterly distributions, announced its ninth distribution for the quarter ended 31 December 2013.
The board has approved a cash interest distribution of 15.10 cents per A-linked unit and 15.10 cents per B-linked unit for the quarter. The combined distribution of 30,20 cents for the A and B linked units is 11,4% higher than the combined distribution of 27,10 cents for the comparative quarter ended 31 December 2012.
The A-linked units participate in the distribution growth as the distribution exceeds 15 cents or 50% of the distributable income for the quarter, whichever is the greater. This has been achieved sooner than anticipated by the market.
"We are extremely pleased with the performance of the company, and in particular the participation of the A-linked unitholders in the distribution growth this quarter. Once again, we have met and exceeded market expectations" commented Gerald Leissner, Chief Executive Officer.
"We remain committed to expanding Arrowhead's asset base both with income-enhancing and high-yielding property acquisitions throughout South Africa" he concluded.
Salient dates of the interest distribution to unitholders have been announced on SENS and payment date is stated as Monday, 10 March 2014.