Property group Stockland
(ASX:SGP) says it expects to pay shareholders an interim dividend of 10.8 cents a share.
The estimated distribution for the six months to June 30, 2010, takes the full-year dividend payment to 21.6 cents a share.
This compares to an interim dividend of 17 cents a share in the second half of last fiscal year, and a full year dividend of 34 cents.
Stockland will release its full year financial results and finalised dividends on August 11, 2010.
In May the company announced it was on track to deliver record residential sales in fiscal 2010.
Managing director Matthew Quinn told investors that the company’s Residential Communities margins are expected to increase between 1% and 1.5% in the second half due to recent price increases, particularly in Victoria and Western Australia.
At the time, Stockland also reiterated its earnings per share guidance of 29 cents.
Stockland fell into the red in fiscal 09 posting a $1.8 billion loss following profits the two years previous.
