14 December 2018
Distribution details for the six months to 31 December 2018
Dexus today announced its distribution for the six months ending 31 December 2018 of 27.2 cents per stapled security, representing a 14.8% increase compared to the previous corresponding period. The increase was driven primarily by settlement of the sale of an identified trading asset at 32 Flinders Street in Melbourne, which realised circa $49 million of trading profits (pre-tax) in the six months ending 31 December 2018.
The payment will be made in accordance with the following timetable:
Ex-distribution date: Friday, 28 December 2018
Record date: Monday, 31 December 2018
Payment date and dispatch of distribution statements: Thursday, 28 February 2019
Dexus confirms that its distribution reinvestment plan remains suspended and will not be in operation for this distribution payment. If any changes occur in this regard, the Australian Securities Exchange and security holders will be advised at the appropriate time.
Dexus reconfirms its market guidance1 for the 12 months ending 30 June 2019 for distribution per security growth of circa 5%.
Dexus’s 2019 half-year results will be released on Wednesday, 6 February 2019.
1 Barring unforeseen circumstances, guidance is supported by the following assumptions: Impacts of announced divestments and acquisitions; FFO per security growth of circa 3%, underlying FFO per security growth of circa 3% underpinned by Dexus office portfolio like-for-like growth of 4-5%, Dexus industrial portfolio like-for-like income growth of 2.5-3.5%, management operations FFO and cost of debt broadly in line with FY18; trading profits of $35-40 million net of tax; maintenance capex, cash incentives, leasing costs and rent free incentives of $155-165 million; and excluding any further transactions.