Westfield owner Scentre (ASX:SCG) reconfirms its dividend

Company News

by Melissa Darmawan

Owner and manager of Westfield shopping centres Scentre (ASX:SCG) reports a 27 per cent increase in collected gross rent cash collections from January to April this year to $802 million when compared to the same time in 2020.

Customer visitation has continued to improve with visitation rates in April at 93 per cent of 2019 levels with their total portfolio in-store sales improving by 6.3 per cent.

The company mentioned that its $55 million entertainment, leisure and dining precinct development at Westfield Mt Druitt, Sydney is progressing well and is expected to open at the end of 2021. Scentre is also completing work on behalf of Cbus Property to design and construct the residential and commercial tower in Sydney’s CBD noting that it is progressing well, with completion to be expected in 2023.

The company reconfirms its distribution of 14 cents per share.

Shares in Scentre (ASX:SCG) are trading 0.92 per cent lower at $2.685.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.