Redefine Properties, the second-largest SA-based property fund, has warned that its dividend will decline by 45% in its financial year to August because of weak economic conditions at home and abroad.

The group which owns assets worth more than R90bn said in a trading statement on Wednesday that it expected its dividend per share to fall by at least 45.5c, resulting in a 9.57% fall in share price to R2.74.

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