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...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now