Duxton Water (ASX:D2O) has reaffirmed its intention to pay a fully franked 2.9 cent dividend in September 2020 and a fully franked 3.0 cent dividend in March 2021.
In addition, a further target of 3.2 cents fully franked to be paid in March 2022 is announced today, giving shareholders 24 months visibility in these uncertain times.
Duxton Water is engaged in building a portfolio of both ground and surface water entitlements predominantly across the southern Murray Darling Basin.
The Company is pleased to announce the execution of a new water lease arrangement starting 1 July 2020.
This will take the leased portion of the Company’s permanent water portfolio to 66 per cent, generating approximately $9.5 million in annualised leasing revenue from 1 July 2020.
Shares in Duxton Water (ASX:D20) are trading 1.53 per cent higher at $1.33.