Capco opts against dividend as Covid-19 weighs on rentals
Income plunges as value of Covent Garden falls 27% to £1.8bn in the year to end-December
Property investment and development company Capital & Counties (Capco), which was scarred by Brexit in 2016 and now by the fallout from the Covid-19 pandemic, has opted not to declare a final dividend as the value of its coveted property shrunk, underscoring the challenging operating environment in the UK.
Capco, which was spun out of the late businessman and philanthropist Donald Gordon’s Liberty International, owns the iconic UK retail development Covent Garden, the value of which has plunged 27% to £1.8bn in the year to end-December, as many customers stay at home due to fear of contracting the deadly virus...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.