DNZ Property targets minimum 2.5% annual dividend growth

Thu, 04 Sep 2014

By Paul McBeth Sept. 5 (BusinessDesk) - DNZ Property Fund, the country's sixth-biggest listed property investor by market value, wants to lift its dividends by at least 2.5 percent a year after the board evaluated the current market and make-up of the firm's property portfolio. The property investor expects to pay a dividend of 9.5 cents per share in the 2015 financial year, up from 9 cents a year earlier, and expects that return to lift every year, chairman Tim Storey told shareholders in Auckland. DNZ operates a dividend policy of payin...

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