Better half for Calan but not unitholders
Friday 27 February 2004
Investor and developer Calan Healthcare Properties Trust has lifted its performance, but its unitholders will not get any more money.
By The Landlord
Calan made an unaudited net profit of $4.6 million for the six months to December 31, up 22.2 per cent from $3.7 million the previous year.A second-quarter gross dividend of 2c per unit was declared last month and gives an unchanged first-half distribution of 4c a unit.
Calan's unitholders complained about the health of the trust at the November annual general meeting, grilling chairman Bruce Davidson and chief executive Miles Wentworth over the unit price, questioning confidence in the business, the conditional sale of a property alongside North Shore Hospital in Auckland to Metlifecare for $12.82 million and the future of a Melbourne development.
Read More - Opens in a new window
Commenting is closed
Property News
Return to market form
There’s been a rallying of the market with the latest REINZ data showing both sales volumes and median house prices noticeably up with the onset of Spring.
Commercial
NZ proptech start-up scores major investor
Auckland-based commercial property disrupter, Jasper, has raised $2.3 million in seed funding following investment from European asset manager M7 Real Estate.
Mortgages
LVR limits slow down investors
LVR speed limits continue to have a "strong effect" on investors, according to CoreLogic, after the latest Reserve Bank data showed a drop in investor borrowing.
