Texton Property Fund becomes first Reit to withhold 2020 payout
75% of Texton's distributable income for financial 2020 will exceed the cash generated by the group amid the Covid-19 pandemic
22 November 2020 - 19:38
Texton Property Fund is the first real estate investment trust (Reit) in the R300bn SA listed property sector to declare it cannot pay a dividend at all for 2020, after failing to meet liquidity tests.
The company, which owns R5.1bn worth of assets in SA and the UK, made the announcement in a business update on Friday...
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