Octodec withholds dividend due to Covid-19 uncertainty
The real estate group said recently it was negotia-ting with tenants and has diversified its funding sources
22 April 2020 - 08:00
JSE-listed real estate investment trust (Reit) Octodec Investments will hold on to about R260m in cash by not paying an interim dividend as it prepares for fallout from the Covid-19 pandemic.
The group, which has the majority of its properties in the Johannesburg and Tshwane city centres, saw its R12.6bn portfolio written down by R213.9m during the six months to end-February, reporting increased vacancies as SA’s recession put pressure on the property sector...
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