Specialised shopping centre real estate investment trust (Reit) Hyprop expects its distributable income a share for the six months ended December 31, 2020, to be between 43% and 46% lower year-on-year at between 181c and 191c.
The company attributes the decline mainly to the negative impact of Covid-19 on the group’s operations.
"Shareholders are advised that, given the ongoing uncertainty related to Covid-19 and Hyprop’s established objectives to reduce debt and strengthen its balance sheet, the board considers it prudent to defer any decision on the declaration of a dividend to shareholders until publication of Hyprop’s annual results in September 2021."
The Reit will publish its interim results on March 1.