Rural Funds Group (ASX: RFF) - our play on farmland, water and the "Green Revolution" - has done well since we first recommended it early last fall.
In its most recent earnings report, profits zoomed 150%, adjusted funds from operations (a type of cash flow) leaped 48% and distributions surged 8%.
And in October, the company acquired the high-security Murrumbidgee River water entitlement. With the deal, Rural Funds got the 9,549-megaliter entitlement for just $26 million (in U.S. dollars). That guarantees a cornerstone resource for future horticulture development. In the meantime, the firm gets revenue from the sale of annual water allocations.
There's going to be a nice payoff. And thanks to the dividend yield of better than 5%, you'll be well paid while you wait.
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