Table of Contents
Key Points
- Lighthouse declared a $32 million interim dividend, marking a 7.9% increase, supported by strong Iberian real estate portfolio growth.
- Barry Stuhler’s 6.37% stake, equal to more than 102 million shares, earned him $2.04 million in half-year dividends.
- Despite higher borrowing costs, Lighthouse posted $33.35 million profit, doubling earnings year-on-year and strengthening shareholder value.
South African-born real estate tycoon Barry Stuhler is set to receive R35.89 million ($2.04 million) in interim dividends from his stake in Lighthouse Properties.
The Malta-based real estate group declared a €27.39 million ($31.97 million) interim payout to shareholders for the first half of 2025. The dividend, set at €0.0131 per share, will be paid on Sept. 11 and marks a 7.9 percent increase from last year, supported by the company’s expansion in Iberia after the 2024 sale of its Hammerson stake.
Stuhler, who owns 6.37 percent of Lighthouse, more than 102 million shares, will see his share of the payout drawn from the group’s half-year retained earnings of €230.76 million ($269.4 million). The distribution was approved by the board as part of Lighthouse’s ongoing policy to deliver steady cash returns to its investors.
Lighthouse nearly doubles first-half profit
For the six months ended June 30, Lighthouse reported an operating profit of €42.26 million ($49.32 million), boosted by the strength of its Iberian portfolio. Profit for the period nearly doubled year-on-year, rising 94.3 percent from €14.71 million ($17.18 million) in the first half of 2024 to €28.58 million ($33.35 million) in 2025.
The company’s performance came despite higher interest expenses tied to the refinancing of Forum Coimbra borrowings in December 2024. Distributable earnings per share increased 7.86 percent to €0.013 ($0.012) from €0.0122 ($0.011) a year earlier, while net asset value per share held steady at €0.426 ($0.502). Operating efficiency also improved, with cost-to-income ratios narrowing to 35.5 percent for property expenses and 6.3 percent for administration.
Strategic leadership and expansion
Under Stuhler’s guidance, Lighthouse has grown into a leading real estate firm with a diversified portfolio across France, Portugal, Slovenia, Spain, and the UK. Stuhler has overseen the company’s transition from Lighthouse Capital Limited to its current structure, focusing on direct property investments and real estate infrastructure.
By balancing steady shareholder returns with disciplined financial management, Lighthouse Properties has shown resilience in the face of market challenges. The interim dividend serves as a reflection of the company’s adaptability, reinforcing its long-term growth objectives despite ongoing economic uncertainty.
