JSE-listed real estate investment trust Redefine Properties increased revenue by 20.2% to R9.9-billion for the year ended August 31, and declared total dividends for the year of 43.8c a share, up from 42.97c a share in the 2022 financial year, but group distributable income decreased by 4.1% to R3.5-billion driven mainly by elevated interest rates which increased net funding costs. The company increased its property assets under management to R96.8-billion, up from R88.9-billion in the 2022 financial year, increased net asset value a share to R7.66 a share, up from R7.20 a share in the prior year, and total shareholder return to 12.5%, up from 10.7% in the prior financial year.
