New Zealand Rural Land Company (NZL: NZX) has provided an update to its FY22 guidance, taking into account the current dairy environment, independent valuations, and the latest Monetary Policy Statement by the RBNZ.
The high inflationary environment is expected to have a net positive impact on NZL’s performance, with higher long-term lease revenue, increasing rural land asset values and higher short-term interest rates.
NZL is expecting a material increase in NAV which could result in total shareholder returns being higher than previously guided.
The company is also reconfirming its dividend policy of paying 95% of AFFO as dividends, and now expects to pay a final dividend of 2.19 cps in September following the release of the company’s full year result for FY22.
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