Behind Resilient’s grim dividend forecast
Mall owner says power cuts and Edcon struggles have contributed to 6.3% cut
25 June 2019 - 20:17
Resilient, which was involved in a property scandal that saw it lose more than 60% of its market value in 2018 after traders flogged its shares, has warned that power disruptions and national retailer Edcon’s struggles will reduce its dividend growth in its upcoming financial results.
The group, which owns malls in small towns such as Tzaneen, Polokwane and Brits, and also has stakes in European retail landlords Nepi Rockcastle and Lighthouse Capital, said problems beyond its control had led to rising costs...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.