Precinct FY25 First Quarter Dividends

Precinct Properties New Zealand Limited (“PPNZ”) is pleased to advise a cash dividend for the FY25 first quarter of 1.497500 cents per share. This dividend has no imputation credits to attach for the quarter and therefore no supplementary dividend to be paid (see note 1).

Precinct Properties Investments Limited (“PPIL”) is pleased to advise a dividend for the FY25 first quarter of 0.260138 cents per share, comprising cash of 0.190000 cents per share, imputation credits of 0.048245 cents per share and a supplementary dividend of 0.021893 cents per share (see note 1).

The record date for both PPNZ and PPIL dividends above is 29 November 2024 and payment will be made on 13 December 2024.

Ends

For further information, please contact:

Richard Hilder
Chief Financial Officer
Mobile: +64 29 969 4770
Email: [email protected]

Note 1
A supplementary dividend is paid to non-resident shareholders to offset the amount of non-resident withholding tax (“NRWT”) that New Zealand companies are required to deduct from dividends paid to non-resident shareholders. A supplementary dividend is paid to ensure equitable treatment between non-resident shareholders and resident shareholders (whose dividends are not subject to NRWT).
 
About Precinct
Listed on the NZX Main Board under the ticker code PCT and ranked in the NZX top 30, Precinct is the largest owner, manager and developer of premium city centre real estate in Auckland and Wellington. Precinct is predominantly invested in office buildings and also includes investment in Generator, Commercial Bay retail and a multi-unit residential development business. As at 30 June 2024, Precinct's directly-held portfolio (on-completion value) totalled $3.3 billion and Precinct had a further $1.6 billion of capital partnering assets under management: $1.1 billion of these were assets in which Precinct holds a minority interest; with the balance being managed on behalf of third party partners. For information visit: www.precinct.co.nz

On 1 July 2023, Precinct effected a restructuring to create a stapled group structure. A stapled group comprises two listed parent companies whose shares are held by the same shareholders in equal proportions. The shares in each parent company can only be transferred or dealt with together.

Shareholders in Precinct Properties Group (“Precinct”) hold an equal number of shares in Precinct NZ and Precinct Investments Limited and these shares can only be dealt with together. The stapled issuers are described as “Precinct Properties NZ Ltd & Precinct Properties Investments Ltd (NS)” on NZX systems and the ticker code for the stapled shares remains PCT.

---

Announcement PDF