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

 

Argosy affirms plan to lift full-year dividend

Argosy affirms plan to lift full-year dividend of 6.2 cents a share

By Rebecca Howard

July 25 (BusinessDesk) - Argosy Property told its annual general meeting it is on track to deliver a 2018 full-year dividend of 6.2 cents per share, fully paid from distributable income.

The Auckland-based company said it would pay a first quarter dividend of 1.55 cents per share with a Sept. 28 payment date. In the year to March 31 the dividend was 6.1 cents per share, a 1.2 percent increase on the prior year.

Looking ahead, chief executive Peter Mence said "in New Zealand net absorption driven primarily by economic growth and modest excess capacity provides a level of confidence. There remains difficulty seeing any realistic catalysts for any short term change" and noted that uncertainty from international events has the potential to solidify New Zealand's position as a destination.

He said there is potential for rental growth to be stronger than recent years and "the improved quality of our diversified portfolio will allow us to make the most of the current market conditions."

At the end of March, its portfolio was valued at $1.44 billion across 64 properties.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: