Stride sees flat dividend for another year as profit falls on smaller revaluation gain

Tue, 28 May 2019

By Paul McBeth May 29 (BusinessDesk) - Stride Property Group posted a 20 percent drop in annual profit due to a smaller property revaluation gain. It expects to pay a flat dividend for another year as it continues with a new strategy of managing other people's properties as well as directly owning real estate. Net profit fell to $76.2 million in the 12 months ended March 31 from $95.3 million a year earlier. The decline was due largely to a smaller revaluation gain on its investment properties of $36.5 million, compared to a $48.3 million...

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