Previous investors in Direct Property Fund, which is now merged with Property For Industry, are being offered the opportunity to reinvest their dividends in the PFI dividend reinvestment scheme, if and when its suspension is lifted.
The two property companies merged July last year, creating the fifth largest listed property group on the New Zealand share market and boosting its portfolio 66 percent to 83 properties.
Previous DPF shareholders, which make up 46.4 percent of the new company, can now apply to join the dividend reinvestment scheme rather than receive a cash pay-out. However, the PDI scheme has been suspended since the merger. Both companies had previously offered this option to shareholders.
Auckland-based PFI said its board will continue to assess whether to operate or suspend the dividend reinvestment scheme on a quarterly basis.
The company said it will post its earnings on Feb. 17. In December it forecast its net portfolio to gain 2.4 percent to $841.7 million.
Shares were unchanged at $1.265 and are down 1.9 percent this year.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Conflict questions linger over FCB's Massey Uni win
- Kasich’s strong showing in New Hampshire offers sliver of hope for TPP
- New freight hub on the books for Ports of Auckland
- SkyCity first-half profit rises 30%, helped by 'high rollers'
- ASB increases mortgage market share for the first time in nine quarters
Most listened to
- Tony Gibson looks at the opportunities for Ports of Auckland’s new multi-million dollar freight hub
- ASB Bank's CEO Barbara Chapman discusses the mortgage and dairy lending markets
- Green party co-leader James Shaw and Business NZ manager of energy and environment John Carnegie discuss the ETS review - part 2
- Nevil Gibson breaks down the New Hampshire primary result in his latest Editor's Insight
- Green party co-leader James Shaw and Business NZ's John Carnegie go head-to-head on the ETS review - part 1