Kiwi Property reports solid Q1, reconfirms dividend outlook

Kiwi Property Group reported a portfolio value of $3.3 billion as of June 30, 2025, with an occupancy rate of 97.6% across nine investment properties and a WALT of 4.2 years. The company's net tangible assets stood at $1.14. Annualized centre sales reached $2.1 billion, a decrease of 1.8% year-over-year, while annualized pedestrian counts were 37.0 million, a 0.8% decrease year-over-year.

The company reconfirmed its FY26 full-year dividend guidance of 5.60 cents per share. For the Q1 dividend, payable on September 19, 2025, a cash dividend of 1.40 cps and imputation credits of 0.34 cps were declared. The dividend reinvestment plan will be in operation for the FY26 Q1 dividend, offering a 2% discount to the 5-day VWAP following the ex date.

Key operational highlights include ASB Bank's nine-year lease extension at North Wharf and the Resido build-to-rent development at Sylvia Park achieving 95% lease occupancy. The mixed-use strategy at Sylvia Park is estimated to generate approximately $44 million in annual sales from residents, office workers, and retail staff. The company also announced new leadership appointments, including Michele Embling as chair of the audit, risk and sustainability committee.