Arrowhead Properties, the diversified real estate group, says it is  weathering the effects of weak performances from its investments in other property companies. CEO Mark Kaplan said the company had warned in March that it expected its dividend per share for the year to September to fall 22% and that the announcement by subsidiary Indluplace that its dividend would drop by some 20% for its 2019 financial year, would only have a marginal effect on Arrowhead.     Arrowhead’s expected drop in dividend takes into account the effect of retailer Edcon’s rental-cut agreements with landlords and an operating environment which weakened further.  Arrowhead said it expected to declare a dividend per share of 56c for the year to September 2019, compared to 74.10c in the previous period. Kaplan said Arrowhead’s direct property portfolio had continued to trade well, and in line with expectations, in a slow-growth economy. Indluplace Properties, which invests in residential property and...

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 Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now