Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


PFI Continues Consistent Returns to Investors

Release to New Zealand Stock Exchange

Property For Industry Continues Consistent Returns to Investors

Listed industrial property investor Property For Industry has announced a solid third-quarter result, with consistent returns to investors following a slightly lower operating surplus.

Chairman Mr Peter Masfen said PFI shareholders will receive a third-quarter dividend of 1.35 cents per share with imputation credits of 0.3 cps, unchanged from the previous two quarters of this year. The dividend entitlement date is November 1, 2002 and the dividend will be paid on November 8.

PFI’s operating surplus for the nine months to September 30, 2002 was $8.556 million, slightly down on the $8.748 million recorded for the same period last year.

Interest costs were reduced to $3.374 million, compared with $3.939 million in 2001, as a result of more favourable interest rates and divestment of non-core properties completed over the past year. PFI’s rental income was comparatively lower at $16.189 million (2001: $16.547 million), also as a result of the property divestments. Earnings per share for the same nine-month period decreased from 4.6 cents to 4.3 cents.

PFI’s portfolio remains unchanged with 46 properties, valued at $207 million and with an occupancy rate of 98 percent.

PFI is New Zealand’s only listed property company investing exclusively in the New Zealand industrial property sector and has a policy of paying out 100 percent of net operating earnings as quarterly dividends. The company is managed by AMP Henderson Global Investors, which manages more than $300 billion of assets worldwide.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>


Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news