AMP NZ Office Trust profit up over 9 months

Sunday 23 May 2004

AMP NZ Office Trust nudged up its after-tax profit slightly from $25.5 million in the nine months ended March last year to $26.3 million this year.

By The Landlord

Trust executive manager Rob Lang said unitholders would get a 1.75c quarterly dividend on June 9 and the trust was on target to deliver its forecast dividend of 7c for the full year to June 30.

During the past nine months, the trust has completed a $62 million buyback of units from investors, settled the $23.9 million purchase of Wellington's Pastoral House and started a $15.5 million refurbishment of the building. The Ministry of Health took up tenancy at 3 The Terrace, in Wellington.

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