The share price of RMB Holdings (RMH) jumped to its best level on Friday morning since it unbundled its FirstRand holding, after the property-focused group declared a R1.13bn special dividend, which is almost half its market value.

The group had previously flagged that it would pay the dividend after a development opportunity in Romania failed to proceed on time, but topped that up with about R242m in cash as it seeks to return capital to shareholders...

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