Mall of Africa owner Attacq may have experienced better-than-expected trading numbers for the year to June but it has had to slash its dividend growth forecast for the next two years due to a worsening economy. Attacq rewarded investors with a maiden dividend of 74c per share for the year to June, which was in line with expectations, but like many of its peers it fears a difficult 2019 and 2020. In February it said it expected its dividends to grow 20% for both its 2019 and 2020 financial years. But these were revised down to 7.5%-9.5% for 2019 and 13%-15% for 2020. CEO Melt Hamman said a weak economy had made it difficult for the group to dispose of noncore assets and had slowed the development of some of its projects. It had also received lower-than-expected distributions from its investment in European property owner MAS Real Estate, as well as lower-than-expected cash receipts of interest on shareholder loans from its retail investments in the rest of Africa. The developer and p...

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