AMP Office rental income ticks upward

By NZPA

Tuesday 18th May 2004

Listed property fund AMP New Zealand Office Trust (Anzo) today announced a net surplus of $26.3 million for the nine months to March 31 this year, a 2.95% increase on the same period last year.

Anzo executive manager Robert Lang said the fund's rental income for the nine months was up 3.26% to $36.5 million, compared with the same period last year.

The increase was down to higher occupancy rates and rentals, Lang said in a statement.

The fund also said it had benefited from more favourable interest rates over the period.

Interest rate expenses were 10.2% lower than the previous corresponding period.

Anzo shareholders will receive a quarterly dividend of 1.75 cents per unit for the quarter, with a record date of June 1 and payment on June 9.

Lang said Anzo remained on target for its forecast dividend of 7 cents per unit for the full year to June 30.

Anzo currently owns eight New Zealand office buildings with a total value of more than $600 million.

Comments from our readers

No comments yet