Hyprop warns of distribution per share and dividend fall due to Covid-19
The mall owner, which is in a closed period, has seen its share price fall 57.27% so far in 2020
Hyprop Investments, which owns malls including Rosebank Mall, Hyde Park Corner and Canal Walk, expects distribution per share for its year to end-June to fall 15% as a result of the economic pressure on its business caused by Covid-19, and a change in its dividend policy.
The group said in a trading statement that it expects its dividend for its year to end-June to fall steadily from the 744.89c it paid out previously. In December, the group announced it would pay out 92% of distributable earnings to shareholders until further notice, from 100% previously...