Company's ‘unacceptable’ decision not to reward patient investors with a dividend has further shredded an already weak share price.
Long-suffering shareholders of UK-based mall owner Hammerson, whose market cap has shrunk from R100bn to less than R25bn in the past five years, have been dealt another blow: they’re not getting a final dividend for the December reporting period.
That’s despite the real estate investment trust posting a 60% increase in adjusted earnings for the year to December. Net rental income, meanwhile, is up a healthy 29%. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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