Commonwealth Property Office Fund
(ASX:CPA) has upgraded its distribution guidance for fiscal 2014, driven by leasing success.
Commonwealth Managed Investments Limited - which is the responsible entity of CPA - announced a 3.1 per cent increase on the original distribution guidance of 6.55 cents, to 6.75 cents per share.
The company says the upgrade assumes no change in the payout ratio of approximately 75% of funds from operations.
CPA fund manager Charles Moore says the upgrade has been driven by further leasing success as well as a number of favourable one off outcomes.
Mr Moore also announced CPA's estimated distribution for the six-month period ending December 31, of 3.5 cents per unit.
CPA delivered a net profit of $145.4 million in fiscal 2013.
