Exemplar’s dividend falls as it holds cash for bad debts and to help tenants
The rural and township mall owner’s dividend per share fell 17.8% in the six months to end-August
Exemplar, the township and rural retail property owner, saw its dividend growth plummet nearly a fifth after it gave rental relief to struggling tenants and held cash for bad debt provisions, amid the Covid-19 pandemic.
Exemplar, which owns a R6bn portfolio of 22 retail assets across five provinces, exclusively in the township and rural retail sector, declared a dividend of R116.9m for the six months to end-August, being 35.96c per share. This was 7.81c per share or 17.8% lower than the comparable 2019 period...