Key Highlights

  • Waypoint REIT pays an unfranked September-quarter distribution of 4.32 cents per security on 30 November 2026.
  • Entitlement was fixed by the 29 September ex-date and 30 September record date.
  • The amount matches guidance given in the 1H2026 results, which reaffirmed FY26 distributable Earnings of 17.14 cents per security.
  • Gearing sits in the lower half of its 30 to 40 per cent target range.

Waypoint REIT (ASX:WPR), the stapled group made up of Waypoint REIT Limited and the Waypoint REIT Trust, is due to pay its September-quarter distribution of 4.32 cents per security on Monday 30 November 2026, one of the later REIT payments on the ASX Dividend calendar this month. The fuel and convenience property owner's Appendix 3A.1, lodged on 21 September 2026, shows the distribution is unfranked, with an ex-date of 29 September and a Record Date of 30 September. Because entitlement was fixed at the end of September, the remaining step for securityholders is the cash payment itself.

Waypoint's September-quarter distribution in detail

The distribution covers the three months to 30 September 2026. Waypoint's notice lists the amount as 4.32 cents per stapled security on an actual rather than estimated basis. It is 0 per cent franked, which is typical for Australian real estate investment trusts, and Waypoint reported no conduit foreign income component.

The timetable is notable for the gap between the record date and the payment date. Holders on the register at 30 September are entitled to the distribution, yet the cash does not arrive until 30 November, two months later. That means anyone who bought Waypoint securities after the ex-date of 29 September will not receive this payment, even though it is paid in late November.

The one-business-day gap between the ex-date and the record date reflects how ASX settlement works. Trades settle two Business days after they are made, so a security bought on the ex-date would not settle in time for the buyer to appear on the register at the record date. For that reason the ex-date, rather than the payment date, is the date that determines entitlement. Securityholders who are entitled to the 30 November payment can check that their bank account details held by the registry are current, since distributions are generally paid electronically.

How the 4.32c amount was signalled

Waypoint flagged the higher quarterly amount in its 1H2026 results, released in late August for the half-year to 30 June 2026. The REIT said its quarterly distribution for the second half of the 2026 financial year was expected to rise to 4.32 cents per security from 4.25 cents in the first half, reflecting a 100 per cent Payout Ratio for the year. Waypoint reaffirmed FY26 distributable earnings per security guidance of 17.14 cents.

For the first half, the REIT reported distributable earnings per security of 8.59 cents, up 3.4 per cent, and distributions of 8.50 cents per security, up 3.2 per cent. Waypoint's financial year runs to 31 December, so FY26 for this trust ends on 31 December 2026, and the December-quarter distribution will complete the year. Details of that final quarterly payment, including its dates, will be confirmed in a separate notice to the ASX.

What sits behind Waypoint's income

Waypoint owns a portfolio of 394 fuel and convenience properties with a combined Book Value of $2,862.7 million at 30 June 2026. Of those, 343 sites are leased to Viva Energy Australia and operate under the Reddy Express or OTR brands. The REIT reported occupancy of 99.9 per cent by income and a weighted average Lease expiry of 5.9 years by income.

Gearing was 32.4 per cent at 30 June, which Waypoint said sits in the lower half of its 30 to 40 per cent target range. Hadyn Stephens is Managing Director and Chief Executive Officer. The concentration of leases with a single major tenant is a defining feature of the portfolio and something securityholders monitor alongside the distribution.

Other November REIT payments on the ASX dividend calendar

Waypoint is one of several REITs with September-quarter distributions landing in November. Arena REIT's distribution notice shows 4.50 cents per stapled security for the September quarter, with a record date of 30 September and payment on 12 November 2026. Charter Hall Long WALE REIT's updated Appendix 3A.1 lists an unfranked distribution of 6.375 cents per security for the same quarter, with a record date of 30 September and payment on 13 November, and its distribution reinvestment plan operated at a 1 per cent discount.

Rural Funds Group's Appendix 3A.1 for the September quarter listed a distribution of 2.9325 cents per unit, unfranked, with a record date of 30 September and a scheduled payment date of 30 October 2026. Taken together, these notices show a common pattern: quarter-end record dates, followed by payments anywhere from four to nine weeks later.

Why REIT distributions are taxed differently

REIT distributions differ from company dividends because they are generally paid by trusts rather than companies. Instead of franking credits, trust distributions can include components such as taxable income, capital gains, tax-deferred amounts and cost base adjustments. Arena's Custodian notice for its September distribution, for example, set out separate fund payment, interest and cost base adjustment components.

Final tax components for an income year are usually confirmed in an annual tax statement issued after the end of the year. For Australian resident investors, it is that statement, rather than the quarterly notice, that is normally used to complete a tax return.

Rate setting and the REIT backdrop

The 30 November payment arrives after the Reserve Bank of Australia raised the cash rate target by 25 basis points to 4.85 per cent on 3 November 2026, its fifth increase this year. The RBA said Inflation "remains elevated" and the economy is slowing. Borrowing costs matter for REITs because they affect interest expense on debt, which is one reason gearing and hedging levels are regularly reported in REIT results.

Key Takeaways

Waypoint REIT (ASX:WPR) pays its unfranked September-quarter distribution of 4.32 cents per security on 30 November 2026, with entitlement already fixed by the 29 September ex-date and 30 September record date. The amount matches guidance given in the REIT's 1H2026 results, which reaffirmed FY26 distributable earnings per security of 17.14 cents. Arena REIT, Charter Hall Long WALE REIT and Rural Funds Group also feature on the November ASX dividend calendar with quarter-end record dates, showing how REIT payment dates can trail their entitlement dates by several weeks.