Vicinity Centres Declares AUD 0.0605 Dividend, Sets DRP Price at AUD 2.55
Vicinity Centres has updated its dividend distribution details for the six months ending June 2025, including the Dividend Reinvestment Plan price and the NZD equivalent payout for New Zealand investors.
- Ordinary dividend of AUD 0.0605 per security for six months ending 30 June 2025
- Dividend payment date set for 16 September 2025
- Dividend Reinvestment Plan (DRP) price fixed at AUD 2.55 with a 1% discount
- NZD equivalent distribution amount and AUD/NZD exchange rate disclosed
- DRP securities to be newly issued and available to Australian and New Zealand securityholders
Dividend Update and Payment Details
Vicinity Centres, a leading real estate investment trust listed on the ASX under the code VCX, has provided an update to its dividend distribution for the six-month period ending 30 June 2025. The company confirmed an ordinary dividend of AUD 0.0605 per security, payable on 16 September 2025. This dividend remains unfranked, reflecting the company’s current tax position.
The record date for determining eligible securityholders was 26 August 2025, with the ex-dividend date falling a day earlier on 25 August 2025. Importantly, no external approvals were required for this dividend payment, streamlining the process for investors.
Dividend Reinvestment Plan (DRP) Details
Vicinity Centres has also announced key details regarding its Dividend Reinvestment Plan (DRP) for this distribution. The DRP price has been set at AUD 2.55 per security, reflecting the average market price over the period from 28 August to 3 September 2025, less a 1% discount. This discount is designed to incentivize participation by allowing investors to reinvest dividends at a slightly reduced price.
DRP securities will be newly issued and will rank equally with existing securities from the issue date, 16 September 2025. Eligible participants must have a registered address in Australia or New Zealand, ensuring the plan is accessible to the majority of the company’s investor base in these key markets. The default option for securityholders who do not elect to participate in the DRP is to receive their dividend payment in cash.
Currency Options and Exchange Rate Disclosure
For securityholders based in New Zealand, Vicinity Centres offers the option to receive dividend payments in New Zealand dollars (NZD) rather than Australian dollars (AUD). The company disclosed the AUD/NZD exchange rate used for this distribution as 1 AUD to 1.1096 NZD. Consequently, the NZD equivalent distribution amount is NZD 0.0671308 per security.
Securityholders wishing to receive their distributions in NZD were required to submit a valid request by the close of business on the record date. This currency flexibility reflects Vicinity Centres’ commitment to accommodating its international investors and managing cross-border payment complexities.
Tax and Additional Information
The dividend is fully unfranked, meaning it does not carry Australian franking credits. Tax component details will be made available on Vicinity Centres’ website in September 2025, providing transparency for investors regarding their tax obligations. The company also noted that the DRP participation rules and further details are accessible online, ensuring investors have the necessary information to make informed decisions.
Overall, this update provides clarity on the dividend payment mechanics, reinvestment opportunities, and currency options, all of which are critical for income-focused investors and those considering reinvestment strategies.
Bottom Line?
Investors should monitor DRP uptake and currency impacts as Vicinity Centres finalises its distribution for the period.
Questions in the middle?
- How will fluctuations in the AUD/NZD exchange rate affect future NZD distributions?
- What level of participation is expected in the DRP given the 1% discount?
- Could future dividends become franked if Vicinity Centres’ tax position changes?
