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URBUS Properties Limited (URB)

URBUS Properties Limited (URB)

Interim profit and dividend for the six months to 30th September 2002

URBUS Properties Limited today announced an unaudited after tax operating profit of $8,204,000 for the six months to 30th September 2002. This is a slight increase over the same period last year ($8,170,000). Revaluations of the property portfolio are not included. The Company revalues its property portfolio annually on 31st March.

The company also announced an interim dividend of 3.62 cents per share (cps), together with an imputation credit of 0.88 cps to give a gross dividend for the six months of 4.50cps. This equates to an annual pre-tax return of 9.00cps. This is in line with the previous year’s interim dividend and equates to an 11.25% return on the latest share price $0.80.

The record date for the interim dividend is 22nd November 2002 and the URBUS shares will go ex the interim dividend on 25th November 2002. The payment date is 6th December 2002.

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