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Diversified listed property company Octodec Investments will pay a minimum distribution for its 2021 year, saying it is continuing to feel pressure on rentals as SA’s property sector battles to recover from Covid-19 lockdowns.

The group on Tuesday halved its dividend for 2021 to 50c — a payout of about R130m — opting instead to prioritise reducing a debt load more than twice its R2.2bn market value. Despite this the group is “stable and in control”, and is seeing the green shoots of a turnaround, MD Jeffrey Wapnick told Business Day...

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