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Charter Hall Social Infrastructure REIT (ASX: CQE) announces that in light of the uncertain environment and potential extended duration of the COVID-19 pandemic, it is withdrawing its FY20 earnings and distribution guidance.
CQE remains well capitalised with debt facilities of $500 million with no debt maturities until March 2023, available liquidity and the ability to fully fund its contracted property acquisitions and future development pipeline from existing facilities.
CQE’s distribution for the March 2020 quarter of 4.175 cents per unit previously declared will be paid on 21 April 2020. CQE Fund Manager, Travis Butcher said:
“In light of the escalating nature of the COVID-19 pandemic, it is prudent to withdraw our current earnings and distribution guidance. We will work with all stakeholders to manage through this challenging situation. We welcome today’s announcement from the Minister of Education that the government will help families with the cost of childcare and provide support for childcare centres to remain viable and pay staff during enforced COVID-19 closures.”
Announcement authorised by the Board.