Stockland Corporation Ltd
.JPG)
SGP Details
Shares of Stockland Corporation Ltd (ASX: SGP) fell 3.8% to A$4.54 as it traded ex-dividend Thursday, with distribution at A$0.1290 per share for six months to June 30. This equates to a full year distribution payment of 25.5 cents per Ordinary Stapled Security. The Record Date for determining entitlement to the full year distribution is Friday 30 June 2017, and the distribution payment will be made on Thursday 31 August 2017. Further, the announcement of Stockland’s full year financial results and lodgment of Appendix 4E will be made on Wednesday 16 August 2017. On results front, Stockland delivered a solid third quarter performance across its diversified property business and has maintained FY17 guidance for growth in Funds from Operations (FFO) per security of 6 - 7%.
Its residential business achieved 1,891 net deposits inQ3FY17 and 5,984 net deposits in the financial year as on 27th April 2017, compared to a total of 4,844 net deposits up to the corresponding point in time last year. Further, its residential business is on track to meet its full year target of more than 6,000 settlements. During Q3FY17, it has acquired 77 hectares in Craigieburn West to extend Highlands community and 11.5-hectare townhouse development site at Braybrook. SGP has completed stage one of the $412 million redevelopment of Stockland Green Hills shopping Centre and completed & opened the $30 million Stockland Kensington shopping center in Bundaberg. We maintain a “Hold” recommendation at the current price of $ 4.54
SGP Daily chart; (Source: Thomson Reuters)
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