The company is trying to get state entities to commit to long-term leases because uncertainty is making it difficult to forecast income and raise fundingDelta Property Fund CEO Sandile Nomvete. Picture: FINANCIAL MAIL
Delta’s share price closed 9.8% higher at R1.68 on Wednesday, its highest move in just over 39 months. Earlier in March , Delta COO Otis Tshabalala said to investors that the department of public works had been slow to respond to a new leasing framework, first proposed in 2016, which contained longer-term leases at relatively lower rentals.
The company declared an interim dividend of 39.40c per share for the six months to August, which was down 15.1% on the prior period. It also warned that its distributable income for the full financial year to February 2019 would be between 19% and 24% lower than the R691.6m it earned in its 2018 financial year.
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