Business
Unibail’s Westfield freezes dividends as pandemic hits retailers – Sydney Morning Herald
Sir Frank Lowy’s former retail empire Unibail-Rodamco-Westfield has warned investors it will not pay a dividend until 2023 and will exit its US-based assets in…
In its full results to December 31, the groups adjusted recurring earnings per security (EPS) was 7.28 ($11.42), 3 per cent below market forecast. Stripping out the impact of COVID-19 and an accounting change, underlying EPS was down 1 per cent year on year.
Reflecting the hard-hit retail sector by the pandemic, asset values declined 11.3 per cent for the year.
Westfield malls in Australia and New Zealand are owned and managed by Scentre Group, which releases its full year results on February 24.
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