Australian Unity Office Fund (ASX: AOF)- Declares higher distribution for 1QFY19

3 min read | September 21, 2018 09:50 AM AEST | By Team Kalkine Media

ASX-listed REIT, Australian Unity Office Fund today declared the dividend for FY19 first quarter ended 30 September 2018. The company declared fully unfranked distribution of 3.95 cents per unit for the three-month period 1 July 2018 to 30 September 2018. This reflects a higher distribution compared to 3.90 cents per unit in the previous corresponding period.

The distribution is scheduled for payment on 15 October 2018 to shareholders entitled on the record date of 28 September 2018. Ex-dividend is set to be a day prior to the record date.

In the recently released full year results for the period ended 30 June 2018, the company posted $36.7 million in the statutory net profit to $97.3 million on the back of significant increase in asset valuation. FFO rose by $3.0 million to $27.0 million, while NTA has gone up by $0.44 to $2.67 per unit for FY18. [optin-monster-shortcode id="wxhmli4jjedneglg1trq"]

As at 30 June 2018, the Group holds total of 9 properties with weighted average lease expiry (WALE) of 4.1 years while the value of property portfolio was $635.6 million, up $194.5 million, including the acquisition of 150 Charlotte Street, Brisbane for $105.75 million in FY18.

Ahead of the distribution announcement, AOF’s share price surged by 2.273% to $2.7 on 21 September 2018. The stock has seen a performance change of 12.61% over the past one year. It was currently trading at PE of 4.22x with market capitalization of $429.88 million.

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