Property developer and investor Calan Healthcare Properties has raised its payout to unitholders saying asset sales had allowed it to pay down debt, boosting its financial performance.
Sunday, July 31st 2005, 9:07AM
by The Landlord
Calan said it would increase its pre-tax distribution for the June quarter to 2.2 cents a unit, bringing its full year payout to 8.5c.
It also said its September quarter payout would be 2.3 cents per unit and it expected to at least maintain that level of distribution "on an ongoing basis".
That would see Calan deliver 9.2 cents per unit to investors for the year to June 2006 - an increase of 8.2 per cent on 2005.
"Proceeds from the sale of non-core and non-yielding assets were used to retire debt, which has enhanced the trust's financial performance for 2005," Calan said.
