ATTACQ DECIDES TO SHELVE DIVIDEND DECLARATION

ATTACQ, the real estate investment trust behind Waterfall City and Mall of Africa, said it would not be declaring a final distribution for the year to June 30, but that dividends per share would fall by 44.8 percent to 45 cents a share, when compared with the 2019 year end. The 45c was the dividend paid out for the six months to December 31, 2019, the group said in a trading statement yesterday. Attacq previously had R1.2 billion of interest-bearing debt due for repayment by December 31, 2020, with a further R3.5bn due by June 30, 2021. Attacq approached its lenders requesting the extension of debt maturing prior to September 30, 2021, as well as relaxations of its portfolio covenants. The requests were well received by the lenders, with credit approval obtained for all debt maturities to be extended to beyond September 30, 2021. As at May 31, available resources came to R1.1bn, comprising R741m of cash and R310m of liquidity facilities. |