JOHANNESBURG, Sept 11 (Reuters) - South Africa's largest

listed property group Growthpoint Properties said on

Wednesday its full-year distributable income declined by 10%,

stung by high interest rates.

Its distributable income per share (DIPS) - one of the

primary measures of profit in real estate investment trusts

(REITs) - fell to 141.9 South African cents per share in the

year ended June. 30, from 157.6 cents a year earlier.

The commercial property firm declared a final dividend of

117.1 cents down 130.1 from a year earlier.