4 NZX Dividend Stocks From Real Estate Sector- ARG, PCT, IPL, KPG

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Given the of late volatile market scenario, investors believe the companies that declare and pay dividends are robust and resilient in nature. Dividend declaration gives an impressive and effective message to both the existing, as well as prospective shareholders about a company's financial health, business activities, and outlook.  

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Moreover, investors want steady and continuous growth in their earnings. Despite being a tough 2020 for New Zealand's real estate market, some of the companies have sailed through it due to their foresightedness and percipient business strategies.

Let’s check few NZX dividend stocks from property space.

Argosy Property Limited

One of NZ's largest property investment vehicles, Argosy Property Limited (NZX:ARG), declared its interim results of FY21 for the period ended 30 September, on 26 November 2020

Peter Mence, CEO, Argosy Property opined that despite 2020, being a tough year due to the pandemic, the Company delivered on capital management, robust leasing outcomes and implementation of acquisition opportunities with strategic importance.

The Group saw a growth of $1.41 from $1.30 in Net Tangible Assets per share as of 31 March 2020. Further, it also witnessed an increase in Net distributable income per share up 21.2% and also in net distributable income up 21.5%.

Q2 Dividend of 1.6375 cps were declared for the September quarter, which was paid on 23 December 2020.

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ARG's dividend guidance for FY21 enhanced to 6.45 cents per share, assuring sound and well-assumed business strategy.

ALSO READ: Will real estate stocks — ARG, PCT, KPG – continue their stellar show?

On 23 February 2021, at the end of the trading session, ARG was at $1.455, down by 1.02%

Precinct Properties New Zealand Limited

While the effect of the pandemic prevailed in most of the sectors, Precinct Properties New Zealand Limited (NZX:PCT) is confident of its business strategy, elite clients and enhanced occupancy levels.

As per the Quarterly update ending December 2020, PCT reported a cash dividend of 1.625 cents per share on 3 September 2020, payment of which was made on 10 December 2020. For FY21, the Group restated dividend guidance of 6.50 cps, which reflected a rise of 3.2% on pcp.

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ALSO READ: Precinct Properties Report Solid Operating Results

Further, Precinct’s half-yearly results for 2020 would be declared on 25 February 2021.

On 23 February 2021, at the end of the trading session, PCT was at $1.595, up by 0.95%.

Investore Property Limited

NZ’s commercial real estate investment giant, Investore Property Limited (NZX:IPL) declared its interim results for HY21 ended 30 September 2020 in November last year.

In the 6-month results, Investore declared an increase in profit after income tax of $91.0 million with a growth of $80.1 million from HY20. Further, the Group saw a growth of $13.7 million in its distributable profit after current tax, increasing by $4.0m on pcp. For the period closed September 2020, dividend of 1.90 cps was paid to the shareholders on 2 December.

Further, on 16 February 2021, IPL announced a cash dividend of 1.90 cps for Q3 (October-December 2020) of financial year closing on 31 March 2021. This Dividend will be paid to its shareholders on 3 March 2021 and has a record date of 24 February.

ALSO READ: Investore Delivers Strong Growth in PAT; Provides Cash Dividend Guidance for FY21

The non-resident shareholders will be paid 0.140 cps as a supplementary dividend.

Also, the Group has reaffirmed the annual cash dividend guidance of 7.60 cps to its shareholders for FY21 subject to stable financial conditions.

On 23 February 2021, at the end of the trading session, IPL was at $2.219, decreasing by 0.05%.

Kiwi Property Group Limited

The country's leading real estate jumbo, Kiwi Property Group Limited (NZX:KPG), declared its half-yearly results for six months ended 30 September 2020.

Kiwi Property’s CEO, Clive Mackenzie stated that timely and foresighted measures taken early in the financial year 2020 helped the Group to traverse the financial implications of COVID-19.  

KPG’s NPAT increased to $54.2 million, up 47.5% on pcp was based on fair value gain on investment properties. However, its operating PBT stood at $55.2 million, down 8.4%.

Interim Dividend payout of 2.20 cps set at 95% of KPG’s AFFO was paid on 18 December 2020. This dividend payout can be attributed to the fact of comparatively stabilised trading conditions in the latter half of 2020.

On 23 February 2021, at the end of the trading session, KPG was at $1.195, down by 1.24%

(NOTE: Currency is reported in NZ Dollar unless stated otherwise)

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