Property developer and mall owner Stockland will meet guidance for the June half with a payout of 13.2 cents a security.
That will take the full year payout to 24.6 cents a security.
The payment is in line with guidance previously issued by the group.
The estimate comes two months before the payout will actually be declared, with final figures expected when the firm announces full year financial results on August 20.
The record date for the entitlement is June 30, with the dividend set to be paid on August 3.
There was no word on the other key measure for property investment companies – the Funds From Operations measure which investors use to gauge the performance of the company concerned.
In its April update for the March quarter, Stockland said FFO would be “in the range of 16.3 cents to 16.9 cents delivering FFO per security for FY21 of between 32.5 cents to 33.1 cents, in line with prior guidance. Importantly, the likely outcome is currently trending towards the top end of the range.”
The distribution guidance for the year (which will be met) was at the “lower end of a range of our target payout ratio of 75% to 85% of FFO”, Stockland said in the April 20 update.
