Kiwi Property increases FY22 dividend guidance

Kiwi Property announced increased dividend guidance for FY22 following a stronger-than-expected fourth quarter.

The company's diversified asset portfolio proved resilient to the financial impact of Omicron and the red COVID-19 traffic light setting, delivering higher rental income, sales growth, and adjusted funds from operations.

The proposed dividend payment of 5.6 cents per share represents a New Zealand tax-paid yield of 5.21%.

CEO Clive Mackenzie said the company was pleased with their performance, and was looking forward to maintaining momentum as they enter the new financial year.