AMP trust investors get more

Monday 1 November 2004

Unit-holders in the AMP NZ Office Trust are likely to receive a payout of 7.2c a unit for the year to next June.

By The Landlord

Trust executive manager Rob Lang said the trust's surplus after direct expenses increased from $11.72 million in the September quarter last year to $14.74 million this year, a rise of 25.8 per cent.

The trust's planned payout of 7.2c for the year equates to 1.80c a unit in each quarter, up 2.9 per cent from previous quarterly distributions. The September quarter payments will be sent out on November 16 and the December quarter payments will go out in February.

The trust, whose units are trading for about 86c, has three new properties, all in Wellington - Pastoral House, Mobil on the Park and the State Insurance Tower - taking its portfolio to $759 million worth of real estate.

It is one of the country's largest listed real estate vehicles, second only to Kiwi Income Property Trust, which has more than $1 billion worth of property.

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