Property group opts to pay out minimum and instead prioritises debt reduction
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 declared a 50c distribution for the year ending-August, half of what it paid in the prior year, reporting a 14.8% fall in distributable profit after tax to R358.4m...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 Sunday Times Daily.
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