First Mutual Properties declares $5,5 million dividend

FIRST Mutual Properties has declared a $5,5 million dividend for the quarter ended March 31,2021.

In a public notice, the property development and management firm said the dividend declaration was in line with the resolutions made by the board last month.

“At a meeting held on 2 June 2021, your Board resolved that an interim dividend pay-out in the sum of $5,561 million being 0,4497 cents per share be declared from the profits for the quarter ended 31 March 2021,” it said.

During the quarter under review, First Mutual Properties revenue increased by 411 percent compared to the same period in the prior year, driven by rent reviews, higher turnover rentals and the occupancy level rising to 89 percent, mainly attributable to net lettings in the Central Business District office and retail sectors.

It said the dividend would be payable on or about August 6, 2021 to all shareholders of the group registered at close of business on 30th of this month.

“The shares of the group will be traded cum-dividend on the Zimbabwe Stock Exchange up to 27 July 2021 and ex-dividend as from 28 July 2021,” said First Mutual Properties.-chroniclec.zw