Rural Funds Group
(ASX:RFF) has announced its FY16 results. Some highlights include: after tax profit of $34.8 million (up from $10.2 million in FY15), revenue of $26.6 million and AFFO of $14.3 million. These results were in line with the company's forecast.
Rural Funds' revenue increased primarily as a result of increased leased assets due to planned capital expenditure.
Total distribution (cpu) was 8.93 cents, representing a payout ratio of 96%.
Due to its REIT structure, Rural Funds is able to provide stable and growing income yield, and the potential for capital growth over time.
