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The stock of Johan Rupert’s luxury group Richemont rose to  a record high on Friday, as it doubled its annual dividend after a strong recovery in the fourth quarter to end-March.

The share price of the company — that specialises in high-end jewellery, perfume, watches and fashion — hit an intraday best level of R157.01 on Friday, eventually closing 4.76% firmer at a record R154.17...

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