Hyprop Investments expects dividend per share to be 15 percent less per share
This follows a forecasted 10 to 13 percent decline in distributed income and the impact of Covid-19.
On Thursday, 16 June, property reit Hyprop Investments said its dividend per share for the year ended 30 June was expected to be at least 15 percent, or 111.7 cents, per share less than the previous year.
In 2019, the shopping centre owner forecast a 10 to 13 percent decline in distributable income per share in 2020, while in December the company said it intended distributing 92 percent of distributable income.
The reit also later withdrew its dividend guidance for the year due to Covid-19 and said it would delay its R790 million interim dividend payment until October to strengthen its balance sheet in the uncertain environment.
In June, the company reported an increase in rent collections as outlets reopened and customers started returning after more than two months of lockdown.