Indluplace Properties Limited announced that the board of directors of Indluplace (the "Board") would revise its current dividend policy to pay out 100% of distributable income, to a more sustainable pay-out ratio. The Board has resolved to revise the company's dividend pay-out ratio to 75% of distributable income as per the JSE Listings Requirements which meets the minimum distribution requirements for a REIT and, in the company's view, is a more sustainable pay-out ratio. Accordingly, based on the company's distributable income for fiscal year 2020 of between ZAR 162.9 million and ZAR 178.2 million, being a decrease of between 35.2% and 29.1% when compared to the distributable income for fiscal year 2019 of ZAR 251 million, Indluplace expects that, the dividend per share based on a 75% pay-out ratio will be between 42.00 cents per share and 46.00 cents per share. This equates to a decrease of between 46.3% and 41.2% when compared to the dividend of 78.25 cents per share for fiscal year 2019, based on a 100% pay-out ratio.