DNZ Property Fund Limited (DNZ) – FY13 First Quarter Dividend

DNZ Property Fund Limited (DNZ) – FY13 First Quarter Dividend

DNZ Property Fund Limited (DNZ) – FY13 First Quarter Dividend 15/08/2012

The Board of DNZ has today approved a first quarter cash dividend of 2.25 cents per share. This dividend will carry imputation credits of 0.603 cents per share. A supplementary dividend of 0.274 cents per share will be paid to non-resident shareholders.

 
The record date for this dividend is 31 August 2012, with payment to shareholders to be made on 13 September 2012.

The Board has today also approved the implementation of the updated Dividend Reinvestment Plan (DRP) for this FY13 first quarter dividend. A discount for the price of shares issued under the DRP has been set at 1% on the 5 day weighted average trading price of the shares, commencing on 1 September 2012 being the day after the record date.

Eligible Shareholders are reminded that any DRP participation forms need to be received by DNZ’s registrar, Computershare Investor Services Limited, by 5:00 pm on the record date of 31 August 2012. Shareholders are reminded that any previous DRP participation is no longer valid and if they wish to participate in the updated DRP they need to reapply.
 


 
For Further Information Please Contact:
Paul Duffy, Chief Executive, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 021 843 758 – Email: paul.duffy@dnzproperty.com

Jennifer Whooley, Chief Financial Officer, DNZ Property Fund Limited
DDI: 09 913 1150 – Mobile: 021 536 406 – Email: jennifer.whooley@dnzproperty.com

DNZ Property Fund Overview
DNZ Property Fund Limited owns one of New Zealand’s largest diversified investment property portfolios with commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2012, DNZ Property Fund owned 51 properties with 252 tenants, a weighted average lease term (WALT) of 5.6 years and an occupancy rate of 98.6% over a net lettable area of 379,960m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ Property Fund Limited also manages the $105m property portfolio of Diversified NZ Property Fund Limited for Australian institutional investors.

DNZ’s top 10 tenants as at 30 June 2012: Bunnings, Progressive Enterprises (Countdown), NZ Government, Fletcher Building, Foodstuffs (PAK’nSAVE & New World), ASB, Meridian Energy, Mitre 10, Lion and Westpac. These 10 tenants represent 52% of the Company’s total contract rental.

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