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Hospitality Property declares final dividend for year ended March 31

Hospitality Property Fund declared a dividend of 78.46 South African cents per share for the six months ended March 31, including an interim dividend of 27.09 cents per share and a clean-out dividend of 14.74 cents per share.

The South African hotel real estate investment trust will pay the dividend June 18 to shareholders on record as of June 15. The company distributed 41.83 cents per share for the six months ended Sept. 30, 2017.

The total dividend per share for the year ended March 31 comes to 120.29 cents, the REIT said in a release, noting that its distributable earnings were up 66% year over year at 656 million rand.

As of May 23, US$1 was equivalent to 12.54 rand.