Johannesburg-listed real estate investment trust Investec Property Fund Ltd. declared a final dividend of 70.16 South African cents per share for the six-month period ended March 31, up from 66.74 cents per share in the prior-year period.

The half-year dividend elevates the company's full-year payout by 8.5% year over year to 138.53 cents per share from 127.65 cents per share in the year earlier.

Additionally, the REIT estimates growth of between 6.5% and 7.5% in core dividend per share for the financial year ending March 31, 2019.

As of May 15, US$1 was equivalent to 12.59 South African rand.