Kiwi Property Forecasts 2.7% Rise in FY 2027 Dividend

About this update from Kiwi Property Group Ltd.

(20:31 GMT) *Kiwi Property FY Net Profit NZ$50.4 Million, Down 12% (20:31 GMT) *Kiwi Property FY Adjusted Funds From Operations NZ$100.2 Million, Up 8% (20:31 GMT) *Kiwi Property FY Net Rental Income NZ$202.4 Million, Up 4.3% (20:32 GMT) *Kiwi Property FY Dividend 5.60 New Zealand Cents/Share (20:32 GMT) *Kiwi Property FY Net Tangible Assets 1.12 New Zealand Cents/Share (20:33 GMT) *Kiwi Property Expects Dividend of 5.75 New Zealand Cents/Share in FY 2027 (20:33 GMT) *Kiwi Property Expects Dividend at Higher End of 90-100% Adjusted Funds From Operations Range (20:43 GMT) Kiwi Property Forecasts 2.7% Rise in FY 2027 DividendBy David WinningSYDNEY--Kiwi Property forecast a higher dividend in its new fiscal year, as it looks to progress developments that include the completion of the southern enhancement project of Sylvia Park and an upgrade to the Vero Centre.Kiwi Property said it expects to pay a dividend of 5.75 New Zealand cents a share, equivalent to 3.36 U.S. cents, in the 12 months through March 2027. If achieved, that would represent growth of 2.7% on the 5.60 New Zealand cents payout for the 2026 fiscal year."The forecast dividend is expected to be at the higher end of our 90% to 100% target adjusted funds from operations payout range," said Kiwi Property Chair Simon Shakesheff.The outlook was provided alongside a profit of NZ$50.4 million for the 2026 fiscal year, down 12%. Net rental income totaled NZ$202.4 million, up 4.3% on year, and adjusted funds from operations were NZ$100.2 million, up 8.0%.Chief Executive Clive Mackenzie said Kiwi Property aims to manage operating costs and capital expenditure in the 2027 fiscal year, while recycling capital from non-strategic assets."This will help preserve balance sheet flexibility and support reinvestment in opportunities aligned with our strategy and capital allocation framework," he said.Write to David Winning at [email protected]

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