Redefine says Covid-19 pandemic will slash its dividend payout
SA's second-largest home-based property fund expects its income to shrink in 2020
12 August 2020 - 20:30
Redefine Properties, the second-largest SA-based property fund, has warned that its dividend will decline by 45% in its financial year to August because of weak economic conditions at home and abroad.
The group which owns assets worth more than R90bn said in a trading statement on Wednesday that it expected its dividend per share to fall by at least 45.5c, resulting in a 9.57% fall in share price to R2.74...
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