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    Real estate investment trusts
Dipula Properties Limited Class B

Dipula Properties Limited Class B

JJSE:DIB
720.00
ZAC
+13.00
(+1.84%)
725.53BMarket Cap
Nov 11Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.33
1.85
2.03
2.61
2.53
2.32
2.5
2.44
2.48
1.51
1.55
1.63
1.66
- -
Basic EPS, GAAP
0.71
0.27
1.09
1.63
0.92
0.99
1.29
0.22
0.81
1.21
0.65
0.85
1.02
- -
Free Cash Flow per Basic Share
0.11
0.05
0.15
-0.1
0.08
-0.04
-0.12
0.45
0.39
0.01
0.01
-0.01
0.05
- -
Dividend per Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Book Value per Share
2.57
2.66
9.14
10.14
10.13
10.03
10.25
10
10.3
6.63
6.64
6.98
7.5
7.31
Tangible Book Value per Share
2.41
2.51
9.02
10.02
10.1
9.82
10.11
9.93
10.3
6.63
6.64
6.98
7.5
7.31
Basic Weighted Avg Shares
282
323
358
408
424
476
529
529
529
895
899
912
910
959
Sales/Revenue/Turnover
375
598
729
1,065
1,070
1,103
1,322
1,291
1,314
1,352
1,395
1,487
1,513
- -
Operating Margin (%)
77.48
63.67
62.14
64.18
63.97
61.47
63.82
61.2
60.14
62.03
61.22
59.38
56.78
- -
Depreciation Expense
- -
- -
- -
10
10
38
38
38
38
1
18
20
22
- -
Net Income, GAAP
199
88
391
666
388
472
682
119
429
1,081
588
774
932
- -
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
15.07
- -
0.04
- -
- -
- -
Profit Margin (%)
53.18
14.72
53.61
62.52
36.27
42.77
51.55
9.22
32.68
79.92
42.15
52.06
61.61
- -
Working Capital
-113
-624
-255
-154
-302
-908
-715
-918
-1,064
-1,151
-1,330
178
189
230
LT Debt
2,943
2,775
1,752
2,632
2,271
2,598
2,877
2,762
2,435
2,463
2,241
3,847
3,988
4,137
Total Equity
754
842
3,604
4,326
4,424
5,465
5,609
5,546
5,661
6,078
6,250
6,531
7,012
7,582
Return on Invested Capital (%)
- -
9.75
9.28
10.64
9.47
8.95
9.75
8.84
7.62
8.85
8.59
8.62
8.05
- -
Return on Capital (%)
- -
11.61
13.63
13.87
8.72
8.97
10.46
4.59
6.79
14.48
8.54
11.23
11.62
- -
Return on Common Equity (%)
30.46
11.04
17.58
17.08
9
9.69
12.7
2.22
7.99
18.99
9.82
12.48
14.14
- -

Capital Structure

ZAR

•

in mil. unless spec.
Feb'25
Aug'25
Feb'26
ST Debt
4
6
5
LT Borrowings
3,796
3,867
4,016
LT Finance Leases
119
120
121
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
910
910
1,013
Market Capitalization
4,779
5,144
7,255

Working Capital

ZAR

•

in mil. unless spec.
Feb'25
Aug'25
Feb'26
Total Current Assets
367
389
426
Cash, Cash Equivalents & STI
93
96
108
Accounts Receivable, Net
271
138
318
Inventories
- -
- -
- -
Total Current Liabilities
173
200
196
Payables & Accruals
- -
- -
- -
ST Debt
4
6
5
Deferred Revenue
- -
- -
- -

Growth Rates

ZAR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.15%
4.83%
7.37%
Free Cash Flow
-179.17%
-205.57%
-746.03%
Net Income, GAAP
43.09%
83.74%
20.35%
Sales/Revenue/Turnover
8.33%
3.23%
1.69%
Total Cash Common Dividend
- -
- -
- -

Semi-annual Revenue

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
1,487
2025
- -
- -
1,513
2026
- -
- -
- -

Semi-annual Earnings Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
0.85
2025
- -
- -
1.02
2026
- -
- -
- -

Semi-annual Dividends Per Share

ZAR

•

in mil. unless spec.

Year

H1
H2
FY
2024
- -
- -
- -
2025
- -
- -
- -
2026
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Izak Smolly Petersen
Full Time Employees
87
Sector
Finance
Industry
Real estate investment trusts
Address
12th Floor, Firestation Rosebank Johannesburg GT South Africa 2196
IPO Date
Aug 17, 2011
Website
dipula.co.za
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Business
Dipula Properties Limited is a South Africa-focused real estate investment trust (REIT) that owns, manages and develops a diversified portfolio of retail shopping centres; high-rise and low-rise office buildings, office parks and mixed-use properties; industrial warehousing, logistics parks, low- and high-grade industrial facilities including mini, midi and maxi units; affordable residential rental assets; and undeveloped land, primarily concentrated in Gauteng with operations throughout South Africa. Founded in 2005 and headquartered at Firestation Rosebank, 16 Baker Street, Johannesburg, the company listed on the JSE main board in 2011, rebranded from Dipula Income Fund to Dipula Properties Limited, and maintains an internally managed structure with approximately 166 properties encompassing 879,007 square metres of gross lettable area. In recent developments, Dipula announced and advanced five strategic acquisitions totalling R700 million in August 2025, headlined by the R480 million purchase of Protea Gardens Mall in Soweto, alongside expansions at Woolworths Gezina and Tower Mall, and two industrial properties, with transfers expected between September and November 2025; the company also reported full-year 2025 results in November showing 4% revenue growth to ZAR521 million distributable earnings, a 6% portfolio expansion, ZAR200 million in non-core asset disposals for reinvestment, and progress in solar energy initiatives and interest rate hedging at 68%.