Against a weakening economic environment, the sovereign downgrade in March and the Covid-19 pandemic, JSE-listed real estate investment trust Octodec Investments recorded a 22% reduction in distributable income for the financial year ended August 31 and has deferred its decision to declare a final dividend for the 2020 financial year until February 2021. The reduction was largely attributable to the rent relief granted by Octodec to its tenants that were detrimentally affected by the Covid-19 lockdown and the increase in credit loss allowances, rental reversions and increased vacancies.
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