DEXUS Sets Quarterly Distribution at AUD 0.05138 Per Security for December Quarter
DEXUS Convenience Retail REIT has announced a final distribution of AUD 0.05138 per security for the quarter ending December 2024, confirming steady income for investors ahead of the February payment date.
- Final distribution rate set at AUD 0.05138 per security
- Distribution relates to quarter ending 31 December 2024
- Payment date scheduled for 20 February 2025
- Distribution is fully unfranked and paid in Australian dollars
- Dividend Reinvestment Plan not applicable for this distribution
Final Distribution Rate Confirmed
DEXUS Convenience Retail REIT (ASX: DXC) has provided an update to its previous announcement, confirming the final distribution rate for the quarter ending 31 December 2024. The fund will pay a distribution of AUD 0.05138 per fully paid stapled security, reflecting the income generated over the period.
This announcement, made on 10 February 2025, finalises the distribution details initially previewed in December 2024. Investors can expect the payment to be made on 20 February 2025, with the record date set at 31 December 2024 and an ex-date of 30 December 2024.
Distribution Characteristics and Tax Components
The distribution is classified as an ordinary dividend and is fully unfranked, meaning it carries no franking credits. This is consistent with the REIT’s typical distribution structure, which often reflects income derived from property rental streams rather than corporate profits subject to Australian company tax.
DEXUS Convenience Retail REIT also disclosed that the distribution will be paid in Australian dollars, with no currency conversion arrangements in place. While the entity operates a Dividend Reinvestment Plan (DRP), it has confirmed that the DRP will not apply to this particular distribution.
Investors should note that detailed tax component information will be made available later in the year, with the fund’s tax information for the financial year ending 30 June 2025 scheduled for release in August 2025. This information will be accessible via the DEXUS investor centre.
Implications for Investors and Market Context
The confirmation of this distribution rate provides clarity and reassurance to income-focused investors relying on steady cash flows from their REIT holdings. The quarterly payout aligns with expectations and reflects the underlying stability of DEXUS’s convenience retail property portfolio.
Given the unfranked nature of the distribution, investors should consider their individual tax circumstances when assessing the after-tax yield. The absence of a DRP option for this distribution may also influence investor decisions regarding reinvestment strategies.
Looking ahead, market participants will be watching for the upcoming tax component disclosures and any potential shifts in distribution policy or portfolio performance that could impact future payouts.
Bottom Line?
As DEXUS Convenience Retail REIT delivers on its distribution promise, investors await further tax details that could influence portfolio returns.
Questions in the middle?
- Will the upcoming tax component disclosures reveal any changes affecting investor tax liabilities?
- How might the unavailability of the DRP for this distribution impact investor reinvestment behavior?
- What does this distribution indicate about the underlying performance and outlook of DEXUS’s retail property assets?
