Redefine Properties, one of the largest property companies based in SA, said on Friday that it would not pay a dividend for the year to end-August 2020, citing ongoing Covid-19 uncertainty and the pressure on its tenants due to the lockdown imposed on the economy to curtail the spread of the coronavirus.

This is the first time the real estate investment trust (Reit), which has a market value of R19.5bn, has not paid a dividend for a financial year since listing in February 2000. It was founded in 1999.  ..

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