DNZ FY14 First Quarter Dividend

DNZ FY14 First Quarter Dividend

DNZ FY14 First Quarter Dividend 13/08/2013

The Board of DNZ has today approved a cash dividend of 2.25 cents per share for the quarter ended 30 June 2013. This dividend will carry imputation credits of 0.565 cents per share. A supplementary dividend of 0.2564 cents per share will be paid to non-resident shareholders.

The record date for this dividend is 30 August 2013, with payment to shareholders to be made on 12 September 2013.

The Board has today resolved to reinstate the Dividend Reinvestment Plan (DRP) for this 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 (and including) 2 September 2013 being the first business day immediately 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 30 August 2013.

For Further Information Please Contact:
Tim Storey, Chairman, DNZ Property Fund Limited
Mobile: 021 633 089 – Email: tim.storey@dnzproperty.com

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 $667 million (as at 31 March 2013) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 30 June 2013, DNZ Property Fund owned 46 properties with 291 tenants, a weighted average lease term of 5.6 years and an occupancy rate of 99.6% over a net lettable area of 364,219m².

DNZ Property Fund Limited is a Portfolio Investment Entity in which investors hold shares and is managed by its own internal management team. DNZ also holds management rights to Diversified NZ Property Fund Limited, a $111 million (as at 31 March 2013) commercial property portfolio.

DNZ’s top 10 tenants as at 30 June 2013: Bunnings, Progressive Enterprises (Countdown), NZ Government, Foodstuffs (PAK’nSAVE & New World), Fletcher Building, ASB, The Warehouse, Westpac, Meridian Energy, Lion. These 10 tenants represent 51% of the Company’s total contract rental.

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