South Africa’s second-largest landlord by assets, Redefine Properties resumed dividend payouts on improved liquidity and as it swung to a full year profit on Monday. The owner of retail, office and industrial properties said headline earnings per share, the main profit measure in South Africa, rose to 72.27 cents in the full-year that ended Aug 31 from a loss of 52.64 cents a year earlier. Redefine, with assets valued at 72.9 billion rand ($4.84 billion), resolved not to pay a dividend in its 2020 financial year amid uncertainty over the impact of the COVID-19 pandemic.
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