June 3, 2020 / 7:34 AM / a month ago

BRIEF-Grit Real Estate Income Targets To Pay FY Dividend Of At Least US$8.75 Cps

June 3 (Reuters) - Grit Real Estate Income Group Ltd:

* JSE: GTR - BUSINESS, PORTFOLIO AND DIVIDEND UPDATE

* GRIT REAL ESTATE INCOME GROUP LTD - GROUP HAS COLLECTED OVER 80% OF APRIL 2020

* GRIT REAL ESTATE INCOME GROUP LTD - NOW TARGETING TO PAY A FULL-YEAR DIVIDEND OF AT LEAST US$8.75 CPS

* GRIT REAL ESTATE INCOME GROUP LTD - CONSIDERS IT PRUDENT TO REVISE ITS DIVIDEND GUIDANCE FOR CURRENT FINANCIAL YEAR

* GRIT REAL ESTATE INCOME GROUP LTD - BOARD WILL CONTINUE TO MONITOR DIVIDEND POSITION FOR FINANCIAL YEAR ENDING 30 JUNE 2020

* GRIT REAL ESTATE INCOME GROUP LTD - WELL-FINANCED BALANCE SHEET WITH A 43.9% GROUP LTV AT 31 DECEMBER 2019

* GRIT REAL ESTATE INCOME GROUP LTD - CONTINUES TO IMPOSE A MORATORIUM ON ALL NON-ESSENTIAL CAPITAL EXPENDITURE, TRAVEL AND NEW INVESTMENTS

* GRIT REAL ESTATE INCOME - SENIOR MANAGEMENT AGREED TO REDUCE THEIR SALARIES BY 20% FOR A PERIOD OF THREE MONTHS STARTING FROM APRIL 2020

* GRIT REAL ESTATE INCOME - EXPECTS RESULTS FOR FINANCIAL YEAR ENDING 30 JUNE 2020 TO BE IMPACTED BY COVID-19 Source text for Eikon: Further company coverage:

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