New Zealand Rural Land Company (NZL.NZX) has reported a record net profit after tax of $39.7 million for the period ending 30 June 2022.
This is accompanied by an increase in Net Asset Value per share (+18.6% to $1.656 per share) and a final net dividend of 1.60cps bringing the total net dividend for the year to 3.61cps.
NZL has achieved better than forecast yields and expected returns on capital deployed and has acquired $264.9 million of high quality rural land in New Zealand amounting to 11,710 hectares.
The Board and Manager are looking to lift foreign ownership and have amended the capital management policy to include the ability to undertake placements as well as pro-rata offers.
NZL is now looking to dual-list on another global stock exchange.
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