Property Fund hits all-time low as it warns of reduced distributions
The company suffered delays at its flagship project, a R9bn shopping centre in Fourways that is now Africa’s largest
30 September 2019 - 11:03
UPDATED 30 September 2019 - 17:44
The share price of JSE-listed Accelerate Property Fund fell nearly 6% to an all-time low on Monday, after it warned that rental reversions and additional costs at its newly upgraded Fourways Mall would have a material effect on its payments to shareholders.
The company's dividend could fall as much as 15% in its year to end-March 2020, it said in a trading statement...
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