JSE-listed real estate investment trusts (Reits) Vukile Property Fund, Hyprop Investments and Attacq have announced the withdrawal of their distribution guidances for their respective financial year-ends during 2020.
This follows after the governments in countries where they operate declared lockdowns or similar measures to curb the spread of Covid-19, which has created uncertainty around financial performance or the need for cost containment for various property companies.
Vukile initially advised that its dividend a share for the year ended March 31 would be between 3% and 5% higher than the prior year; however, after taking into account the Covid-19 impact on operations in Southern Africa and Spain, the company withdrew its distribution guidance.
Hyprop has withdrawn its distribution guidance for the year ending June 30, despite all its malls in South Africa, South Eastern Europe, Ghana and Nigeria operating safely and effectively.
Attacq has paid its interim dividend for the six months ended December 31 on March 23 already, but withdrew its full-year distribution guidance for the year ending June 30 in light of the uncertainty around what the full impact of the lockdowns globally and locally will be.
The Reit has assets in South Africa, Nigeria and Ghana.
Earlier in March, Redefine Properties also withdrew its distribution guidance for the year ending August 31, which would have been between 5% and 7% lower than the prior year.
Meanwhile, the board of EPP declared a cash dividend of €0.05 apiece in the six months ended December 31, and delayed the payment thereof to June 29.