DNZ – FY14 Third Quarter Dividend

DNZ – FY14 Third Quarter Dividend

DNZ – FY14 Third Quarter Dividend 11/02/2014

The Board of DNZ has today approved a third quarter cash dividend of 2.25 cents per share. This dividend will carry imputation credits of 0.607 cents per share. A supplementary dividend of 0.2755 cents per share will be paid to non-resident shareholders.

 
The record date for this dividend is 28 February 2014, with payment to shareholders to be made on 14 March 2014.
The dividend re-investment plan will remain in place for the FY14 third 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 (and including) 3 March 2014, being the first trading day after the record date.

Eligible shareholders are reminded that any DRP participation or variation forms need to be received by DNZ’s registrar, Computershare Investor Services Limited, by 5:00 pm on the record date of 28 February 2014.
 


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

Peter Alexander, Chief Executive Officer, DNZ Property Fund Limited
DDI: 09 913 1154 – Mobile: 0275 443 678 – Email: peter.alexander@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 $770.6 million (as at 30 September 2013) of commercial office, retail and industrial properties located in the main urban areas throughout New Zealand. As at 31 December 2013, DNZ Property Fund owned 47 properties with 297 tenants, a weighted average lease term of 5.5 years and an occupancy rate of 99.4% over a net lettable area of 369,407m².

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 $117.4 million (as at 30 September 2013) commercial property portfolio.

DNZ’s top 10 tenants as at 30 September 2013: Bunnings, Progressive Enterprises (Countdown), NZ Government, Foodstuffs (PAK’nSAVE & New World), ASB, Fletcher Building, The Warehouse, Westpac, Meridian Energy and Lion. These 10 tenants represent 52% of the Company’s total contract rental.

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