| Thu 1 Dec 2005, 13:17 | | Atlas - Declaration Of Dividend And Interest On De |
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Atlas - Declaration Of Dividend And Interest On Debentures
Atlas Properties Limited
(Incorporated in the Republic of South Africa)
(Registration number 1988/000742/06)
Share code: ATS ISIN: ZAE000008975
("Atlas")
DECLARATION OF DIVIDEND AND INTEREST ON DEBENTURES for the year ended 30
September 2005
Declaration of final dividend and interest on debentures
Notice is hereby given that a final distribution of 61,032 cents (2004 - 57,334
cents), comprising interest of 60,614 cents (2004 - 57,077 cents) per debenture
and a dividend of 0,418 cents (2004 - 0,257 cents) per share has been declared
in respect of the year ended 30 September 2005. The last date to trade cum
interest and dividend will be Thursday, 15 December 2005 and the linked units
will commence trading ex interest and dividend from Monday, 19 December 2005.
The record date will be Friday, 23 December 2005 and payment will be made on
Tuesday, 27 December 2005. Linked units may not be dematerialised or
rematerialised between Monday, 19 December 2005 and Friday, 23 December 2005,
both dates inclusive.
Audited Audited
September September
2005 2004
Distribution for the year
R"000 R"000
Net income distributed to unitholders 67 285 63 279
Consisting of:
Debenture interest 66 974 62 931
Dividend 311 348
Linked units in issue 63 784 922 63 784 922
cents cents
Total distribution per linked unit 105,488 99,207
Consisting of:
Debenture interest 105,001 98,662
Dividend 0,487 0,545
Made up as follows:
Interim distribution per linked unit
paid on 27 June 2005 44,456 41,873
Consisting of:
Debenture interest 44,387 41,585
Dividend 0,069 0,288
Final distribution per linked unit to be
paid on 27 December 2005 61,032 57,334
Consisting of:
Debenture interest 60,614 57,077
Dividend 0,418 0,257
Net tangible asset value per linked unit 1 214 911
As previously reported 915
Effect of straight line
rental adjustment ** (4)
In terms of the requirements of the
JSE Limited the following additional
information is provided:
R"000 R"000
Consolidated profit before taxation 208 681 88 090
Included in consolidated profit before taxation is the surplus on the
revaluation of investment properties.
** AC 105 (Leases) requires that rental income resulting from operating leases
be recognised on a straight line basis over the respective lease terms.
Historically the group recognised rental income in terms of the contractual
obligations inherent in the leases. Comparative figures have been restated to
take this change into account.
Comments
The distribution for the year at 105,488 (2004 - 99,207) cents per unit is
6,3% higher than the previous year. This is in line with the consistent growth
pattern achieved over the past eleven years. Total returns to unitholders,
including income and capital growth, have been 27,5% per annum compounded over
the past 10 years which, as recorded by Business Times, places Atlas at number
15 in the top 100 companies over this period.
Atlas and its unitholders benefit from having an internal wholly-owned
management structure, thereby eliminating conflict of interests, and also by
virtue of a share incentive scheme whereby its employees participate in the
growth of the company.
Building vacancies were 7,8% of rentable area (2004 - 4,2%), or 4,6% of gross
rental income (2004 - 2,5%).
Barring unforeseen circumstances, Atlas should continue to provide increased
earnings to unitholders for the forthcoming year.
Full details of the final results will be available in the Annual Report to be
posted to unitholders on or before 24 December 2005.
By order of the Board
Atlas Management Services (Pty) Ltd Cape Town
Secretaries 1 December 2005
Registered address: 121 Roodebloem Road, Woodstock, 7925
Transfer Secretaries: Computershare Investor Services 2004 (Pty) Ltd,
70 Marshall Street, Johannesburg, 2001
Date: 01/12/2005 01:17:07 PM Produced by the JSE SENS Department
