Dexus lifts earnings guidance

Written By Unknown on Selasa, 10 Desember 2013 | 06.57

DEXUS Property Group has upgraded its earnings guidance as a result of a buyback of securities and the net impact of Dexus's investment in the Commonwealth Property Office Fund (CPA).

Dexus also says its office and industrial portfolios are performing solidly.

Dexus on Tuesday lifted its earnings guidance for the 2014 financial year to 8.29 cents per stapled security, from 8.15 cents per security - up seven per cent on the 2013 result.

"Today's increase in guidance is evidence of our focus on enhancing value and returns to investors," Dexus chief executive Darren Steinberg said in a statement.

"Both the re-instatement of the buy-back in July 2013 and our use of an efficient derivative structure for the investment in CPA, reflect our active approach to capital management."

Dexus will distribute 3.07 cents per security for the six months ending December 31, 2013 - up 6.2 per cent on the prior corresponding period.

Dexus is aiming to pay a full year distribution of 6.24 cents per security.

Dexus securities were two cents higher at $1.035 at 1021 AEDT.


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