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Stockland Announces Chairman's Address to Shareholders

19 Oct 2021  |  14:44:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Chairman's Address to Shareholders

Stockland announced that funds from operations were $788m. The Company's FFO per security was 33.1 cents. The Company also reported statutory profit of $1.1bn was due to net increase in revaluations in Commercial Property, as well as a recovery in its second half income as COVID-19 impacts eased and saw an improvement in market conditions. The full year distribution was 24.6 cents per security, with a distribution payout ratio of 75% which was within the Company's target range and fully covered by operating cashflows.

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