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Hyprop Investments declares higher interim dividend

Hyprop Investments Ltd. declared a per-share dividend of 376.3 South African cents for the six months ended Dec. 31, 2017, reflecting an increase from the previous semiannual payout of 347.8 cents paid Oct. 2, 2017.

The shopping center real estate investment trust said it continues to explore the possible listing of Hystead Ltd, its 60%-owned joint venture with PDI Investment Holdings Ltd. A listing of the U.K.-based shopping center owner could occur in the next six months, Hyprop said.

Hyprop expects its dividend to grow between 8% and 10% for the six-month term ending June 30, above its earlier guidance of 7% to 9%.

The dividend will be paid April 3 to shareholders of record as of March 29.

Hyprop noted that it sold its Willowbridge North shopping center in Cape Town, South Africa, in September 2017 for 225 million South African rand.

As of March 1, US$1 was equivalent to 11.90 South African rand.