Property group Safari, which owns eight malls in towns and semiurban areas, says that while income rose in the lead-up to SA’s economic lockdown, it wanted to conserve cash, meaning investors will receive a lower dividend.

Safari’s revenue increased 16% to R321m from R276m in the year to March but its dividend per share slipped 8% to 46c, as it chose not to pay out 100% of its distributable income.

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