Emira Property Fund (JSE:EMI) Dividend Payout Ratio: 2.29 (As of Mar. 2026) — 157% Above Median

What is Emira Property Fund Dividend Payout Ratio?

Emira Property Fund JSE:EMI +2.75% 59 Dividend Payout Ratio is 2.29 as of Mar. 2026, which is 157% above its 10-year median of 0.89. GuruFocus rates JSE:EMI with a GF Score™ of 59/100 and a GF Value™ of R8.66 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 713 REITs companies, Emira Property Fund ranks worse than 55.68% on this metric.

The Dividend Payout Ratio is the measure of dividends paid out to shareholders relative to the company's net income. It is calculated as the Dividends per Share divided by the Earnings per Share (Diluted) during the same time period. Emira Property Fund's Dividend Payout Ratio for the months ended in Mar. 2026 was 2.29.

Warning Sign:

If a company's dividend payout ratio is too high, its dividend may not be sustainable. The dividend payout ratio of Emira Property Fund Ltd is 1.04, which seems too high.

The historical rank and industry rank for Emira Property Fund's Dividend Payout Ratio or its related term are showing as below:

JSE:EMI' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.31 Med: 0.89 Max: 8.57
Current: 1.04

During the past 13 years, the highest Dividend Payout Ratio of Emira Property Fund was 8.57. The lowest was 0.31. And the median was 0.89.

JSE:EMI's Dividend Payout Ratio is ranked worse than
55.68% of 713 companies
in the REITs industry
Industry Median: 0.99 vs JSE:EMI: 1.04

As of today (2026-07-07), the Dividend Yield % of Emira Property Fund is 9.85%.

During the past 13 years, the highest Trailing Annual Dividend Yield of Emira Property Fund was 27.25%. The lowest was 7.07%. And the median was 10.17%.

Emira Property Fund's Dividends per Share for the months ended in Mar. 2026 was R0.64.

During the past 12 months, Emira Property Fund's average Dividends Per Share Growth Rate was 7.00% per year. During the past 3 years, the average Dividends Per Share Growth Rate was 0.70% per year. During the past 5 years, the average Dividends Per Share Growth Rate was -0.50% per year. During the past 10 years, the average Dividends Per Share Growth Rate was -2.80% per year.

During the past 13 years, the highest 3-Year average Dividends Per Share Growth Rate of Emira Property Fund was 38.40% per year. The lowest was -17.20% per year. And the median was 4.40% per year.

The growth rate is calculated with least square regression.

For more information regarding to dividend, please check our Dividend Page.

* Please note that "special dividend" is not included in the calculation of dividend per share and related fields.

Emira Property Fund (JSE:EMI) Dividend Payout Ratio Explanation

In dividends investing, Dividend Payout Ratio and Dividend Growth Rate are the two most important variables for consideration. A lower payout ratio may indicate that the company has more room to increase its dividends.

Emira Property Fund Dividend Payout Ratio Related Terms

Emira Property Fund Dividend Payout Ratio Historical Data

* Premium members only.

The historical data trend for Emira Property Fund's Dividend Payout Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Emira Property Fund Dividend Payout Ratio Chart

Emira Property Fund Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Mar24

Mar25

Mar26

Dividend Payout Ratio

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0.44

0.78

1.87

0.31

1.70

Emira Property Fund Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Dividend Payout Ratio	Get a 7-Day Free Trial															1.47	0.28	0.35	0.66	2.29

JSE:EMI vs VICI, WPC: Dividend Payout Ratio Comparison

For the REIT - Diversified subindustry, Emira Property Fund's Dividend Payout Ratio, along with its competitors' market caps and Dividend Payout Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Emira Property Fund Dividend Payout Ratio vs REITs Industry

For the REITs industry and Real Estate sector, Emira Property Fund's Dividend Payout Ratio distribution charts can be found below:

* The bar in red indicates where Emira Property Fund's Dividend Payout Ratio falls into.

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59GF Score

Emira Property Fund Ltd JSE:EMI

Dividend Payout Ratio is just one metric. See GF Score™, valuation, warning signs, and more.

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Emira Property Fund Dividend Payout Ratio Calculation

Emira Property Fund's Dividend Payout Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (A: Mar. 2026 )	/	EPS without NRI (A: Mar. 2026 )
	=	1.259	/	0.74
	=	1.70

Emira Property Fund's Dividend Payout Ratio for the quarter that ended in Mar. 2026 is calculated as

Dividend Payout Ratio	=	Dividends per Share (Q: Mar. 2026 )	/	EPS without NRI (Q: Mar. 2026 )
	=	0.644	/	0.281
	=	2.29

Frequently Asked Questions Learn more about Dividend Payout Ratio →

What does a Dividend Payout Ratio of 2.29 mean?

Emira Property Fund (JSE:EMI) has a Dividend Payout Ratio of 2.29 as of Mar. 2026. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Emira Property Fund and its competitors. This is 157% above median its historical median of 0.89. Over the past decade, Emira Property Fund's Dividend Payout Ratio has ranged from 0.31 to 8.57. According to the industry distribution chart, Emira Property Fund ranks #397 out of 713 companies in the REITs industry, placing it in the top 55.7%.

Is Emira Property Fund's Dividend Payout Ratio too high?

Emira Property Fund's current Dividend Payout Ratio of 2.29 is 157% above median its 10-year median of 0.89. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 8.57. The REITs industry median Dividend Payout Ratio is 0.99. Emira Property Fund's value of 2.29 is 131.3% above this industry median. Based on the distribution chart, Emira Property Fund ranks #397 out of 713 companies in the REITs industry, which is below the industry midpoint. Overall, Emira Property Fund has a GF Score™ of 59/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Emira Property Fund's Dividend Payout Ratio compare to VICI and WPC?

According to the REITs industry distribution chart, Emira Property Fund ranks #397 out of 713 companies for Dividend Payout Ratio. This places Emira Property Fund in the lower half of its industry. The industry median Dividend Payout Ratio is 0.99. Emira Property Fund's value of 2.29 is 131.3% above this benchmark. Historically, Emira Property Fund's own Dividend Payout Ratio has ranged from 0.31 to 8.57 over the past decade. While the company's 10-year median is 0.89 vs. the industry median of 0.99, Emira Property Fund has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Dividend Payout Ratio for a REITs company?

The median Dividend Payout Ratio among REITs companies is 0.99, based on 713 companies in the industry. Companies in the top quartile (top 25%) have a Dividend Payout Ratio significantly above this median, while those in the bottom quartile fall well below. However, Dividend Payout Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Emira Property Fund's current Dividend Payout Ratio of 2.29 is 131.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Dividend Payout Ratio mean?

A high Dividend Payout Ratio can signal that a stock is expensive relative to its fundamentals. Dividend payout ratio is the percent of company earnings paid out as dividends. View historical data on Emira Property Fund and its competitors. For the REITs industry, the median Dividend Payout Ratio is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Emira Property Fund's current Dividend Payout Ratio is 2.29, which is 157% above median its own 10-year median of 0.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Emira Property Fund stock overvalued right now?

Based on GuruFocus' analysis, Emira Property Fund (JSE:EMI) is currently considered Significantly Overvalued. The stock's GF Value™ is R8.66, compared to a current price of R13.46 — trading 55.4% above its estimated fair value. The current Dividend Payout Ratio is 2.29, which is 157% above median its 10-year median of 0.89 and 131.3% above the REITs industry median of 0.99. Emira Property Fund's overall GF Score™ is 59/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Dividend Payout Ratio calculated?

Dividend Payout Ratio is calculated from a company's financial statements. For Emira Property Fund (JSE:EMI), the current Dividend Payout Ratio is 2.29 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Emira Property Fund (JSE:EMI) Overvalued in 2026?

Based on GuruFocus' analysis, Emira Property Fund stock appears to be overvalued. The current stock price of R13.46 is trading 55.4% above its estimated GF Value™ of R8.66. GuruFocus considers Emira Property Fund to be Significantly Overvalued.

Key valuation signals for JSE:EMI:

Dividend Payout Ratio: 2.29 (157% above median its 10-year median of 0.89)
GF Value™: R8.66 vs. price of R13.46 (55.4% above fair value)
GF Score™: 59/100 with 6 warning signs
Industry Position: 131.3% above the REITs median (#397 of 713)

No single metric tells the full story. See the JSE:EMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Emira Property Fund Business Description

Industry Real Estate REITs

Comparable Companies JSE:SEA JSE:HET JSE:BTN JSE:OCT JSE:SAC JSE:OAS JSE:ATT JSE:NRL ASX:GMG VICI WPC BSP:HSRE11 ASX:CHC ASX:SGP XPAR:COV ASX:GPT LSE:LAND MEX:FUNO11 LSE:BLND ASX:MGR

Address 33 Sloane Street, 1st Floor, Block A, Knightsbridge Office Park, Bryanston, Johannesburg, GT, ZAF, 2191

Website https://www.emira.co.za

Emira Property Fund Ltd is a South African real estate investment trust. The company's portfolio consists of office, retail, residential, and industrial properties. The majority of the properties are in Gauteng, with the others in the Western Cape and KwaZulu-Natal. The company operates through five segments, namely: Office; Retail; Industrial; Residential; and Corporate. The office segment comprises commercial properties. The retail segment includes shopping centers. The industrial segment consists of industrial properties. The residential segment comprises directly held residential property, and the corporate segment comprises the South African administration activities of the Group.

59GF Score

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Dividend Payout Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R13.46

Price

R8.66

GF Value

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