Growthpoint Reports Distribution and Valuation Dip

Growthpoint Properties Australia (AU:GOZ) has released an update.

Growthpoint Properties Australia has announced a final distribution of 19.3 cents per security for FY24, meeting its guidance and maintaining its funds from operations forecast between 23.2 to 23.6 cents. The company’s latest draft valuations point to a 4.5% decrease in its property portfolio value, primarily due to a dip in the office sector. These preliminary figures suggest Growthpoint’s pro forma gearing will align with its 35%-45% target range, with final valuations due for release in August.

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