- Generally, well-established companies provide a dividend to their shareholders.
- Companies operating in the real estate space are known to be some of the leading dividend payers.
- Cromwell Property, Charter Hall Retail REIT, Charter Hall Long Wale REIT, GPT Group are some ASX-listed property stocks paying dividends.
Dividends are generally paid by an established company which they provide from the profits made during the particular earning season. The real estate sector is known to have companies that pay dividends consistently.
We have filtered seven stocks from the real estate space and see the recent dividend announced by them.
Cromwell Property Group (ASX:CMW)
Internally managed Australian REIT and property fund manager Cromwell Property Group has provided dividends since 2016. The Company announced a final dividend of AU$0.01625 for June 2021 quarter (Q4 FY2021).
In 1H FY2021, the Company managed to navigate through the global complexities of COVID-19 without significant disruption.
- Statutory profit for the period was AU$146.8 million.
- Operating profit stood at AU$99.1 million.
- Total assets under management increased from AU$11.5 billion (as of 30 June 2020) to AU$11.6 billion.
Charter Hall Retail REIT (ASX:CQR)
Charter Hall Retail REIT invests in supermarkets and shopping centres in Australia. Since 2011, CQR has provided a dividend to its shareholders. In FY2021, the Company declared a final dividend of 23.4 AU cents per share, down 4.6% compared to the previous corresponding period. CQR would pay the final dividend on 31 August 2021.
The Company continued to show resilience through COVID-19 mandated closures and restrictions and reported a 5.4% growth in moving annual turnover. Supermarkets in turnover increased from 61% in FY2020 to 66% in June 2021.
Charter Hall Long Wale REIT (ASX:CLW)
Charter Hall Long Wale REIT invests in Australian real-estate assets. Since 2017, the Company has provided dividends to its shareholders. In FY2021, the Company declared a final dividend of 29.2 cents per share, up 3.2% compared to FY2020.
CLW reported a statutory profit of AU$618.3 million. Its operating earnings for the period was AU$159 million.
GPT Group (ASX:GPT)
GPT Group is amongst Australia’s largest diversified property groups, and it owns and manages a portfolio of retail, office, and logistics property assets across Australia. Since 2021, the Company has consistently provided a dividend to its shareholders.
In FY2021, the Company declared its interim dividend (period ended 30 June 2021) of 13.3 cents, up 43% on pcp. During the period, GPT Group reported a net profit of AU$760.5 million (vs a net loss of AU$520.4 million in 1H 2020).
GPT reported a 5% growth in total Centre sales and 6.5% growth in Total Specialties sales. In addition, the Company completed 32 Smith and Queen & Collins Office developments valued at ~AU$780 million.
Scentre Group (ASX:SCG)
Scentre Group owns as well as operates the pre-eminent portfolio of living centres in ANZ. Since 2015, the Company has provided dividends to its shareholders.
It declared an interim dividend (1H FY2021 period ended 30 June 2021) of AU$0.07, which would be paid on 31 August 2021.
In Q1 FY2021, SCG witnessed improvement in customer visitation. At the end of April 2021, the total portfolio customer visitation was equal to 93% of the levels that existed in 2019. Portfolio occupancy remained solid at 98.5% leased at the closure of March 2021. Total portfolio (comprising all centres), specialty in-store sales increased by 6.3% compared to the previous corresponding period and 1.4% compared to the March 2019 quarter.
Abacus Property Group (ASX:ABP)
Abacus Property Group is a prominent diversified property group specialising in core plus property prospects across commercial property markets in Australia and New Zealand. In FY2021, the Company declared a full-year dividend of AU 17.5 cents, down 5.4% compared to FY2021. However, the 2H FY2021 distribution increased by 5.9% to AU9.0 cents. It has consistently provided dividends since 2012.
On 18 August 2021, the Company declared its FY2021 results, reporting a 336% growth in the Group statutory profit to AU$369.4 million.
INTERESTING READ: From Westpac to Abacus: Five stocks that created a buzz today
Growthpoint Properties Australia (ASX:GOZ)
Growthpoint Properties Australia invests in Australian commercial real estate. Since 2012, the Company has constantly provided a dividend to its shareholders. GOZ announced a distribution of 10 cents per share for six months ended 30 June 2021, which would be paid on 31 August 2021.
In 1H FY2021 (period ended 31 December 2021), the Company delivered robust financial results with a 1.9% growth in profit after tax to AU$205.8 million.
On 11 June 2021, GOZ announced that it signed a contract with Charter Hall FLK Funds Management Limited to acquire a 100% leasehold interest in an A-grade, modern office asset for AU$52 million. The asset is situated in a top position in Sydney Olympic Park.