26.06.2009 - India: Double whammy for investors as property firms skip dividends
From Business-standard.com: It's a double whammy of sorts for the investors in property stocks. On the one hand, prices of these stocks have eroded up to 70 per cent from their 2008 peaks, and on the other, most of the real estate companies that have declared results so far have chosen not to pay any dividends for 2008-09. Some of these realtors include big names like Indiabulls Real Estate (IBREL), Housing Development and Infrastructure (HDIL) and Parsvnath Developers.........Full Article: Source
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