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Equites Property declares higher final dividend

Equites Property Fund Ltd. declared a final dividend worth 62.88 South African cents per share for the 12-month term ended Feb. 28.

Together with the interim dividend of 60.98 cents per share, the South African real estate investment trust's total per-share distribution in the fiscal year amounted to 123.86 cents, a 12.2% year over year growth from 110.37 cents per share paid out in the prior fiscal year.

After the reporting period, the industrial assets landlord sold the Execujet Wings asset to global international air services provider Dnata on March 15.

As of May 10, US$1 was equivalent to 12.34 rand.