Redefine Properties builds war chest, vows to start paying dividends again
Reit is prepped for a slow economic recovery after the Covid-19 vaccination rollout
JSE-listed real estate investment trust (Reit) Redefine Properties has accumulated R5.6bn in cash and slashed its debt significantly in the past two years, ensuring it will grow its capital base and return to paying dividends within the next year.
CEO Andrew Konig said in an interview with Business Day on Wednesday that the company, the second-largest SA landlord by assets, is in a healthier position than it was a year ago when it was trying to keep tenants whose businesses were threatened by Covid-19. ..