Redefine right not to pay a dividend, says Stanlib
Property investment company could return capital growth to investors in 2021
27 January 2021 - 19:22
Asset manager and a Redefine Properties shareholder, Stanlib, which has investments in listed property stocks worth more than R9bn, says by withholding dividends in 2020, the property group made the right decision for its long-term future.
Stanlib supported Redefine’s argument that it had passed an insolvency test but not a liquidity test needed to justify paying out income. Redefine, one of the country’s largest landlords, on Friday announced it would not pay a dividend for the full financial year to August 2020. ..
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