Stockland (ASX:SGP) announces estimated distribution for H1 FY23, shares up

December 14, 2022 01:34 PM AEDT | By Tamnna

Image source: © Transversospinales | Megapixl.com

Details of the estimated distribution

According to the company’s official ASX report, Stockland has set Friday, 30 December 2022, as the record date for determining eligibility for the 1H FY23 distribution.

Stockland anticipates issuing the payment for the distribution on Tuesday, 28 February 2023. The company will disclose the first-half financial results for FY23 on 21 February 2023, along with lodging the appendix 4D statement. This statement will include details of the actual distribution for the six months ending 31 December.

How did Q1 FY23 play out for Stockland?

Let’s take a look at the operational updates for the first quarter of FY23:

Stockland managed to achieve strong operational metrics across the diverse commercial property portfolio. High occupancy levels were maintained, and the rent collection number reached 98% during Q1 FY23.
The company saw a 12.1% improvement in the logistics rental section.
Over the quarter, Town Centres leasing spreads remained positive.
For Q1 FY23, master-planned communities (MPC) net sales were 845. This was in line with forecasts and returned to levels seen before COVID-19.
The business has 6,006 MPC contracts in place for the first quarter of FY23, with average prices 13.6% higher than in FY22.
Stockland witnessed solid operating metrics in the existing portfolio of Land Lease Communities (LLC), with an average rental rise of 6.3% compared to FY22.

Talking about Stockland’s Q1 FY23 results, Tarun Gupta, CEO and managing director of Stockland said:

Data Source: Company announcement dated 17 October 2022

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