Vukile Property Fund delayed dividend weakened by Covid-19
Vukile and other Reits want a reprieve in terms of how much income needs to be paid as dividends and within what specific time period
Vukile Property Fund, the JSE-listed real estate investment trust (Reit) with interests in SA and Spanish malls, has warned its shareholders that its dividend will be slashed by nearly a third as the Covid-19 pandemic prevented the company’s tenants from trading in the early part of 2020.
The company, which has Laurence Rapp as its CEO, said on Friday that Vukile’s unbroken, 16-year record of dividend growth would end. In June, the company released preliminary financial results for the year to end-March. When it did so, it deferred its decision to pay a dividend or not. ..