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Cromwell Property Group (ASX: CMW)

Real estate investment management company Cromwell Property Group (ASX: CMW) announced the quarterly dividend of $0.018 per share for three months ending 31 March 2019.

That means Cromwell’s shareholders would be entitled to receive the fully-franked dividend of $0.018 per share. The dividend would be paid only to those shareholders who will be present on CMW’ register as on the record date of 29 March 2019. The date of payment for the quarterly dividend has been fixed to 24 May 2019 with an Ex-dividend date of 28 March 2019.

For the entire Fiscal Year 2019, the company has maintained guidance for distribution of at least 7.25 cents per share, representing distributions per security yield of 6.62% based on a closing price of $1.095 per security on 27 February 2019. It has further provided 8.00 cents per security full-year earnings guidance with operating profit expected to be no less than 8.00 cps.

Cromwell recently declared a growth of 37.5% in its interim statutory profit to $111.1 million for the first half of Fiscal 2019. Cromwell’s Net Tangible Assets was up $0.06 to $0.99 with the gearing of 33.7% below bottom of the target range.

The Group’s direct property investment portfolio has been valued at $2.5 billion with the WALE of 7.2 years as at the end of 1HFY19. This reflects the strong leasing outcomes the company has witnessed including the robust tenant customer profile across the New South Wales and Victorian markets which provided nearly 63% of gross passing income between them.

CMW edged up by 0.452% to last trade at $1.110 on 26 March 2019.

Redcape Hotel Group (ASX: RDC)

In the announcement dated 25 March 2019, Redcape Hotel Group (ASX: RDC) declared a distribution of 2.158 cents per stapled security for the period from 1 January 2019 to 31 March 2019.

The payment date of the distribution has been set to 31 May 2019 with the record date of 29 March 2019. Further, the Ex-Distribution Date is scheduled to 28 March 2019.

The quarterly distribution of 2.158 cents per stapled security comes in line with the 1H19 Distributions of 4.4 cents per stapled security as declared in the results of the first half of Fiscal 2019. 1H19 Distributable Earnings was 4.3 cents per stapled security, down 0.5 cents compared to the previous corresponding period.

Redcape has confirmed its outlook for FY19 with the expectation to achieve the distribution of 8.75 cents per security and Distributable Earnings within the range of 8.8 – 9.0 cents per security. The management further advised that Redcape’s active approach to portfolio management aims to enhance the quality of the portfolio and its earnings. The company further remain focused on security holder returns and delivering forecasted earnings from its portfolio while continuing to assess acquisition and capital recycling opportunities that complement the strategic direction of its business.

RDC stock price increased by 0.476% to last trade at $1.055 on 26 March 2019. The stock has returned a marginal yield of 1.45% in the past three months.


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