Global developer and funds manager, Lend Lease (LLC) has boosted interim dividend after lifting after tax profit for the December half year to $315.6 million.
That was up 25% from the $251.6 million of the previous corresponding half year.
Revenue in the period fell 9.4% to $5.898 billion.
The company will pay an unfranked interim dividend of 27c on March 18, up from the 22c paid in the first half of 2013-14.
“We remain comfortable with consensus net profit after tax expectations of $604m to $628m for fiscal 2015,” managing director Steve McCann said in a statement with the half year report.
"Our $40.4 billion global development pipeline, including a significant number of urban regeneration projects, continues to drive growth and earnings visibility for the Group.
"The Australian and UK residential markets have remained strong. We increased our residential pre sold revenue by $2.2 billion, to $3.6 billion, and settlements rose 11 per cent from the prior corresponding period,” said Mr McCann.
LLC 1Y – Lend Lease lifts interim result 25%
The higher dividend represents a payout ratio of 50% of after tax profit after for the half year. Lend Lease said its Distribution Reinvestment Plan will apply to the interim dividend.
