Stride Property Group · NZX:SPG
Stride Property — DNZ Property Fund — Shareholder Meeting (September 2014)
19 slides from Stride Property's shareholder meeting presentation, Sep 5, 2014
Slide 1: DNZ Annual Meeting
DONZ ANNUAL MEETING DNZ PROPERTY FUND LIMITED -5 SEPTEMBER.201 4
Slide 2: Agenda
AGENDA Tim Storey A. Chairman’s Address Chairman B. Chief Executive’s Address Peter Alexander Chief Executive C. Financial Statements Tim Storey D. Ordinary Resolutions Chairman E. General Business DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 2
Slide 3: A: Chairman's Address
AGENDA Chairman’s Address Tim Storey Chairman Chief Executive’s Address – 2014 Operational Peter Alexander Chief Executive Officer Investment Strategy – 2015 + Financial Statements Ordinary Resolutions General Business A: CHAIRMAN’S ADDRESS DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 20
Slide 4: Highlights
HIGHLIGHTS (31 MARCH 2013 FIGURES IN BRACKETS) Financial Performance Net rental income of $57.4m ($53.5m) up 7.2%. Operating profit before other income and income tax of $35.0m ($31.3m) up 11.6%. Net 2.5% property valuation increase1. Distributable profit2 before income tax of $35.0m ($29.8m) up 17.
Slide 5: Dividends
DIVIDENDS Dividend pay out policy of between 95-100% of distributable profit. Fourth quarter FY14 dividend of 2.25cps, total cash dividend for FY14 year 9.0cps. First quarter dividend FY15 of 2.375cps (5.56% increase on previous quarter). Expectation of total cash dividend for FY15 of 9.50cps. Targe
Slide 6: B: Chief Executive's Address
B: CHIEF EXECUTIVE’S ADDRESS DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 6
Slide 7: 2014 Review
2014 REVIEW FINANCIAL, OPERATIONS & PORTFOLIO (31 MARCH 2013 FIGURES IN BRACKETS) Financial Top 10 Tenants1 by Contract Rental2 Portfolio Contract Rental2 by Sector As at 31 March 2014 As at 31 March 2014 NTA increased to $1.69 ($1.62), up 4.3%. Distributable profit after income tax of $27.7m or 9.6
Slide 8: 2014 Review: Development
2014 REVIEW DEVELOPMENT Westgate Progress on site is advancing well with over 70% pre-leased (by forecast contract rental). On completion in October 2015 the centre will comprise:- 27,000m2 of retail space Over 90 speciality stores 1,139 car parks Farmers department store (8,000m2) and a Countdown s
Slide 9: Strategy
STRATEGY To build New Zealand’s best performing listed property investment company, investing in the best places, managed by the best team and most importantly delivering the best performance. In order to deliver our strategy we are focussed on developing and applying our expertise in four core comp
Slide 10: Year Ahead
YEAR AHEAD Delivery of Westgate in October 2015 fully leased. Divestment of non-core assets to fund Westgate Mall project & new opportunities. Evaluate Johnsonville Mall redevelopment options. DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 10
Slide 11: C: Financial Statements
AGENDA Chairman’s Address Tim Storey Chairman Chief Executive’s Address – 2014 Operational Peter Alexander Chief Executive Officer Investment Strategy – 2015 + Financial Statements Ordinary Resolutions General Business C: FINANCIAL STATEMENTS DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER
Slide 12: Questions on the financial statements for the year ended 31 March 2014?
FINANCIAL STATEMENTS Questions on the financial statements for the year ended 31 March 2014? DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 12
Slide 13: D: Ordinary Resolutions
AGENDA Chairman’s Address Tim Storey Chairman Chief Executive’s Address – 2014 Operational Peter Alexander Chief Executive Officer Investment Strategy – 2015 + Financial Statements Ordinary Resolutions General Business D: ORDINARY RESOLUTIONS DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER
Slide 14: Resolution 1 – Re-appointment of auditor
RESOLUTION 1 Resolution 1 – Re-appointment of auditor “That the re-appointment of PricewaterhouseCoopers as auditor of the Company be recorded and the directors be authorised to fix the auditor’s fees and expenses.” DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 14
Slide 15: Resolution 2 – Appointment of director
RESOLUTION 2 Resolution 2 – Appointment of director “That Michael Peter Stiassny be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.” DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 15
Slide 16: Resolution 3 – Appointment of director
RESOLUTION 3 Resolution 3 – Appointment of director “That David Gregory van Schaardenburg be re-elected as a director of the Company pursuant to clause 20.3 of the Constitution.” DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 16
Slide 17: Resolution 4 – Appointment of director
RESOLUTION 4 Resolution 4 – Appointment of director “That Michelle Patricia Tierney be elected as a director of the Company pursuant to clause 20.3 of the Constitution.” DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014 17
Slide 18: E: General Business
AGENDA Chairman’s Address Tim Storey Chairman Chief Executive’s Address – 2014 Operational Peter Alexander Chief Executive Officer Investment Strategy – 2015 + Financial Statements Ordinary Resolutions General Business E: GENERAL BUSINESS DNZ PROPERTY FUND LIMITED - ANNUAL MEETING - 5 SEPTEMBER 2014
Slide 19: Thank You
AGENDA Chairman’s Address Tim Storey Chairman Chief Executive’s Address – 2014 Operational Peter AlexanderDNZ Property Fund Limited Chief Executive Officer THANK YOU Level 2, 80 Greys Avenue, Auckland 1010 PO Box 6320, Wellesley Street, Auckland 1141 Tel: +64 9 912 2690 Fax: +64 9 912 2693 Investmen
DNZ Property Fund — Shareholder Meeting (September 2014) on 6ix