Growthpoint Properties ups guidance & declares 11.6cps distribution

Company News

by Jessica Amir

Top 200 property group, Growthpoint Properties Australia (ASX:GOZ) has upped its funds from operations (FFO) per security guidance for FY19, and is now eyeing 25 cents per security (cps). That’s a rise from 24.8 cents per stapled security or share.

Growthpoint declared a half year distribution of 11.6 cents per stapled security for the period ending 30 June 2019. That’s a rise on the same time last year’s 11.4 cps. The ex-div date is 27 June 2019, with the unfranked distribution to be paid around 30 August 2019.

Based on the declared FY19 distribution of 23.0 cents per stapled security, the maximum payout ratio to FFO per stapled security is now 92.0 per cent per cent.

Shares in Growthpoint Properties Australia (ASX:GOZ) are trading 0.23 per cent lower at $4.33.

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.