Precinct announces 2025 AGM, FY26 dividend forecast, and strategic updates

Precinct Properties New Zealand has announced its 2025 Annual Shareholder Meeting will be held on Tuesday, November 18, 2025, at 11:30 AM (NZT) at the Toroa Meeting Suite in Auckland, with an option for online attendance. The company reported robust financial performance for FY25, with operating income before indirect expenses increasing by 1.2% and funds from operations (FFO) from the investment portfolio rising 3.7%. Underlying FFO, including property, operating investments, and management business, grew by 6.7% to $161.4 million.

The Board expects total combined cash dividends for FY26 to be NZD 6.75 cents per stapled security. This follows a revised dividend policy based on a payout range of 80% to 95% of FFO, replacing the previous 100% payout of Adjusted Funds from Operations (AFFO) to provide more predictable returns. The record date for dividends is November 28, 2025, with payments due on December 12, 2025.

Precinct also highlighted its progress in strategic initiatives, including a $201 million, 638-bed student accommodation development at 256 Queen Street in Auckland. The company successfully completed an equity raise of $325 million, which included a $285 million underwritten placement and a $25 million share purchase plan, to fund its $3.7 billion development pipeline. Precinct achieved a GRESB survey score of 91 out of 100, placing it in the top 20% of funds globally.