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Fairvest Property Holdings raises dividend

Retail real estate investment trust Fairvest Property Holdings Ltd. declared a final dividend of 10.344 South African cents per share for the six months ended June 30, bringing the total dividend for the year to 20.150 cents per share, a boost of 9.91% from 18.333 cents per share paid in the previous financial year.

Shareholders on record as of Oct. 5 will be eligible to receive the payout.

The company paid its shareholders an interim dividend of 9.806 cents per share in April.

Separately, the trust acquired the Libode Shopping Center for 49 million rand on Aug. 29., through its 55%-owned entity, FPP Property Ventures 120 Proprietary Ltd., Fairvest said in its latest earnings release.

As of Sept. 3, US$1 was equivalent to 14.85 South African rand.