Rebosis update forces Arrowhead to restate dividend drop
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...
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