This article is from the Australian Property Journal archive
REAL estate investor, developer and manager Garda Property Group has upgraded its distribution payout ratio guidance following the buyback and cancellation of securities and increased revenue from external lending activities.
Payout ratio guidance for FY24 is now approximately 99% of funds from operations (FFO), reflecting expected FY24 FFO of $13.1 million.
“The improvement from previous payout ratio guidance of approximately 105% is due to increased revenue from external lending activities ($0.65 million) and reduced distributions payable following the buyback and cancellation of 8.9 million stapled securities ($0.25 million), representing 4.0% of issued capital,” Garda said.
