Table of Contents
Key Points
- Malta-based real estate firm announces a $25.19 million interim dividend payout, rewarding shareholders amidst economic challenges.
- Interim dividend declined by 6.45%, reflecting the cautious approach adopted by the firm amidst ongoing economic challenges.
- Barry Stuhler’s leadership at Lighthouse has propelled the firm’s consistent ability to deliver dividends.
Lighthouse Properties—a prominent Malta-based real estate firm led by South African businessman Barry Stuhler—has declared an interim dividend of $25.19 million, highlighting its dedication to shareholder value despite a challenging economic environment.
The dividend, set at €0.01217 ($0.0112) per share, will be disbursed to investors based on the foreign exchange rate of R19.79/€, as of the close of trading on Monday, August 26, 2024.
Dividend decline amidst economic pressures
The interim dividend for the first half of 2024 represents a 6.45 percent decrease from the €24.01 million ($26.82 million) paid in the prior half-year period. This reduction is attributed to the firm’s cautious stance in response to ongoing economic uncertainties. The decreased dividend reflects the firm’s strategy to balance shareholder returns with financial stability amidst fluctuating market conditions.
Lighthouse Properties reported a strong 28.63 percent revenue increase to €49.07 million ($46.15 million) for the first half of 2024, driven by its diversified real estate portfolio. However, net profit fell 27.83 percent to €14.71 million ($16.43 million) from €20.38 million a year earlier. This decline led to a reduced interim dividend as the company focused on maintaining financial stability amid economic challenges.
Leadership and strategic focus
Under the leadership of Barry Stuhler, Lighthouse Properties has reinforced its status as a leading player in the global real estate sector. Initially established as Lighthouse Capital Limited, the firm rebranded in December 2021 to better align with its focus on direct property investments and listed real estate and infrastructure securities.
Despite economic headwinds, Lighthouse Properties continues to prioritize long-term value creation. The company’s solid revenue and strategic adjustments showcase its resilience and commitment to sustainable growth and shareholder returns. The interim dividend adjustment underscores Lighthouse Properties’ strategic management of economic challenges while focusing on its financial health and future expansion.
