Lighthouse Capital, the SA-led group which owns more than 10% of UK mall owner Hammerson Plc, says it is on track to deliver dividends in 2020, unlike many of its peers.
The company, which now has a stake in Hammerson, Eastern European mall owner Nepi Rockcastle, as well as two malls in Portugal and one in Slovenia, released quarterly results on Friday in which it said it has weathered the worst of the Covid-19 pandemic. “Lighthouse is in a strong financial position and the board’s policy is to consider and declare distributions on a semi-annual basis for June and December,” the company said in a statement.
It added that Hammerson has been considered over-leveraged by the market and therefore not well-positioned to face the challenges arising from the pandemic.share price fall the most in four years last week, after it said it planned to raise £551.7m in a rights issue and to sell assets.
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