Landlord says weak renewal rates in a flagging economy have chipped away at payout growth
Dipula Income Fund, led by CEO Izak Petersen, says increased political stability and policy certainty should boost business confidence. Picture: FINANCIAL MAIL
“The reduction in dividend growth compared to previous guidance is due to less-than-expected lease renewal rates, higher costs of leasing, longer lead times for new leases, tenants vacating space due to changing business models and the impact of the economic slowdown on tenants,” Dipula said. But dividends per combined share were flat compared to a year earlier, partly because new shares were issued to fund deals.
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