Booster announces quarterly distribution for property fund

Booster Investment Management has announced a distribution for the quarter ended 31 December 2023 for its Private Land and Property Fund.

To be eligible for the distribution of 0.67 cents per unit, investors must have been registered security holders of the fund on 14 December 2023.

The distribution is fully imputed and equivalent to a pre-tax payment of 0.66%.

It is based on the cash earnings of the fund from 1 October to 31 December 2023.

The Private Land and Property Fund is currently generating annual cash-based pre-tax earnings of 2.88% from lease income and grape supply contracts.

It also benefits from valuation gains on its land under development, which are reflected in the net asset value of the units.

Investors have the option to participate in the Distribution Reinvestment Plan, with elections to participate required to be received by 5:00pm on the record date.

Booster Investment Management is the manager and issuer of the fund.

It is part of the Booster Group, which administers superannuation and investment funds of over $5 billion on behalf of more than 190,000 New Zealanders.