Lighthouse Properties, a famous Malta-based real estate firm managed by South African businessman Barry Stuhler, has issued an interim dividend of $25.19 million, demonstrating its commitment to shareholder value amid a challenging economic environment.
The dividend of €0.01217 ($0.0112) per share will be paid to investors based on the foreign exchange rate of R19.79/€ as of the close of business on Monday, August 26, 2024.
The interim dividend for the first half of 2024 is down 6.45 percent from the €24.01 million ($26.82 million) paid in the previous half-year period. This decrease is due to the company’s cautious posture in the face of persistent economic concerns. The reduced dividend reflects the company’s objective to strike a balance between shareholder returns and financial security in the face of volatile markets.
Lighthouse Properties recorded a high 28.63 percent revenue gain to €49.07 million ($46.15 million) in the first half of 2024, driven by its diverse real estate portfolio. However, net profit declined 27.83 percent to €14.71 million ($16.43 million), compared to €20.38 million the previous year. As a result of the decline, the company reduced its interim dividend in order to retain financial stability in the face of economic problems.
Under Barry Stuhler’s direction, Lighthouse Properties has solidified its position as a global real estate market leader. The firm was founded as Lighthouse Capital Limited and rebranded in December 2021 to better reflect its focus on direct property investments, as well as listed real estate and infrastructure assets.
Despite economic difficulties, Lighthouse Properties remains focused on long-term value generation. The company’s strong revenue and strategy modifications demonstrate its durability and dedication to long-term growth and shareholder returns. The interim dividend adjustment demonstrates Lighthouse Properties’ strategic approach to economic problems, while focusing on its financial health and future growth.
