“The impacts of Covid-19 have yet to fully play out and the depth and recovery of global GDP cannot be predicted with any confidence,” said Sereit fund manager Jeff O’Dwyer.
“Whilst early indicators are that the easing of the lockdown in our key markets is having a positive impact on our tenants’ operations, we remain alert to the near-term challenges facing all our stakeholders,” O’Dwyer said.
The group had a portfolio valued at €247.3m (R4.8bn) at the end of March.
Schroder to reduce dividend due to Covid-19 uncertainty
Schroder European Real Estate Investment Trust (Sereit) said on Thursday it was halving its next dividend due to uncertainty over the effects of the Covid-19 pandemic.
The property group gives South African investors exposure to Western European capital cities and paid its first interim dividend for the year to end-September of 1.85 euro cents in April.
Its next quarterly dividend, to be paid in July, will be 0.925 euro cents, or half of its target dividend level.
“The impacts of Covid-19 have yet to fully play out and the depth and recovery of global GDP cannot be predicted with any confidence,” said Sereit fund manager Jeff O’Dwyer.
“Whilst early indicators are that the easing of the lockdown in our key markets is having a positive impact on our tenants’ operations, we remain alert to the near-term challenges facing all our stakeholders,” O’Dwyer said.
The group had a portfolio valued at €247.3m (R4.8bn) at the end of March.
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