SAFARI Investments RSA (SAR) Reports 7% Rise in Operating Profit

  • Safari Investments RSA (SAR) reports a 7% increase in operating profit to R302.6 million.
  • Occupancy rate climbs to 97.62% with a vacancy factor of only 2.38%.
  • Declares a dividend of 31 cents per share despite a decrease in distributable earnings.

Safari Investments

Safari Investments RSA Limited (SAR), a REIT listed on the JSE, reports improved operational metrics and financial performance for the 12 months ending 31 March 2024.

Financial Performance

  • Operating profit surged 7% to R302.6 million.
  • Occupancy rate rose to 97.62%, with a minimal vacancy factor of 2.38%.
  • SA REIT net asset value per share climbed 8.63% to R9.94.

Earnings and Dividends

  • Earnings per share increased by 2.03% to 127.95 cents.
  • Declared dividend of 31 cents per share, totaling 61 cents for the year.
  • Despite revenue growth, distributable earnings dipped due to a prior period insurance payout.

Dividend Details

The company declared an interim gross dividend of 31 cents per share, down from 32 cents in 2023. For shareholders not exempt from dividend tax, the net dividend stands at 24.80 cents per share.

Key Dates

  • Declaration date: 19 June 2024
  • Last day to trade cum dividend: 9 July 2024
  • Ex-dividend trading begins: 10 July 2024
  • Record date: 12 July 2024
  • Payment date: 15 July 2024

Director’s Note

The board emphasizes that full details are available in the reviewed consolidated interim financial results, accessible on JSE cloudlink and the company’s website.

Analyst’s Perspective

Analysts note Safari’s positive performance but caution investors to review comprehensive financial details before making investment decisions.


Safari Investments RSA Limited’s steady growth and dividend declaration reflect resilience amid economic shifts.