Multiplex SITES Trust (ASX: MXU)
On 2 January 2018, Brookfield Funds Management Limited as responsible entity of Multiplex SITES Trust (ASX: MXU) announced the distribution rate for the March quarter of 2019.
Multiplex SITES Trust's distribution rate is the addition of the three-month bank bill rate which is determined on the first day of each distribution period and the margin of 3.90 percent. The three-month bank bill rate on 2 January 2019 is 2.0825 percent per annum. Accordingly, the distribution rate for the first quarter of 2019 (from 1 January 2019 and 31 March 2019) is 5.9825 percent per annum.
In the previous quarter (i.e., December quarter 2018) the company had announced the distribution rate of 5.8361 percent per annum. In the first half of FY 2018, Multiplex SITES Trust (Trust) reported total revenue and other income of $12.915 million (1H 2017: $12.645M) and Net profit before income tax of $12.915 million (1H 2017: $12.645M). MXU’s Net tangible asset backing per unit was $100, and Earnings per unit was 287 cents in 1H 2018. In Q1 2018, the company paid a distribution of $6.3M at a distribution of the rate of 5.69% per annum. In Q2 2018, the company paid a distribution of $6.615M at a distribution rate of 5.935% per annum. In 2017, MXU reported a Net profit for the period from continuing operations of $25.34 million and Basic and diluted earnings per ordinary unit of 563 cents. At the end of FY 2017, MXU was having total assets of $456.345 million and Net cash outflows from financing activities of $25.34 million.
Switzer Dividend Growth Fund (ASX: SWTZ)
On 2 January 2019, Switzer Asset Management Limited as a responsible entity of the Switzer Dividend Growth Fund (Managed Funds) (ASX: SWTZ) announced that SWTZ will pay an actual distribution of $0.033683 per unit, for the December quarter of 2018. Following this release, the unit price of SWTZ plunged by 3.433 percent as on 2 January 2019.
As per the announcement, the December distribution is going to be 100 percent franked, and it will be paid on 17 January 2019 (Payment Date). The record date for the distribution is 3 January 2019, and the DRP Election Date is 4 January 2019. Earlier on 27 December 2018, SWTZ announced its estimated distribution of $0.03385 per unit for the December Quarter which was estimated to be 100 percent franked. In the September quarter, SWTZ had declared a dividend of $0.050464 per unit, fully franked and it was paid on 17 October 2018 (Payment Date). The December quarter distribution is $0.016781 less than the distribution paid in the September quarter of 2018.
Meanwhile, in the last six months, the unit price of SWTZ decreased by 10.04% as on 31 December 2018. SWTZ’s traded at $2.250 with the intraday volume of 42,500 as on 2 January 2019 (AEST 4:00 PM).
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