Arrowhead Properties has revised its already lower dividend forecast into even worse territory, after Rebosis Property Fund, of which it owns a significant stake, released a negative trading update on Monday. Rebosis, in which Arrowhead has an approximately 18.6% interest through a holding of Rebosis B shares, said it would be "rebasing its earnings" for the interim period and year to end-August 2018. After assessing the effect of Rebosis’s revised guidance in respect of the dividend per B share for the year ending September 30 2018, Arrowhead said it now expects its dividends to be between 11% and 12% lower compared to the 6.5% drop previously forecast. Accordingly, the dividend for the six-month period ending September 30 2018 is expected to be between 37.46c per share and 36.59c per share, the group said. Arrowhead’s CEO, Mark Kaplan, said the move was a positive one by Rebosis. "Rebosis has taken the right step by accounting for once-off items now and effectively rebasing its ea...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now