Property fund Transcend pays 40% of interim dividend
The residential real estate investment trust decides to hang on to its cash
13 August 2020 - 19:11
UPDATED 14 August 2020 - 12:27
Transcend, the residential real estate investment trust (Reit), collected 95% of its rent in the first six months of 2020, but chose to hang on to cash, which meant its dividend for the interim period fell sharply.
The company which owns a R2.7bn portfolio of more than 25 housing properties in suburbs such as Ferndale and Fleurhof, which attract an average monthly rental of R5,875, is one of a handful of residential-focused funds listed on the JSE...
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