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- As a result of post COVID-19 clarity, Dexus (DXS) expects its FY20 full year distribution per security amount to be consistent with FY19 which came in at 50.2 cents per share
- On March 26, the company withdrew its 2020 financial year guidance due to the uncertainty around COVID-19
- However, Dexus has been comforted by rental collections and positive cashflow
- At market close, Dexus is up 2 per cent and is selling shares for $9.18 each
Real estate investment trust company, Dexus (DXS) has provided an update on its FY20 distribution guidance.
On March 26, the company withdrew its financial guidance for FY20. This was due to the volatile and uncertain conditions resulting from COVID-19.
However, this has now changed due to Dexus seeing further clarity regarding rental collections and cashflow.
“As a result of the passage of time and further clarity regarding rental collections and cashflow, Dexus now provides FY20 full-year guidance for distribution per security,” the company told the market.
The company is now expecting a 2020 financial year distribution per security to be at an amount that is consistent with the 2019 financial year. The full-year distribution amount was 50.2 cents per share.
Dexus maintains a strong balance sheet with 25.4 per cent gearing and $1.7 billion of cash and committed undrawn bank facilities available at April 30 2020.
At market close, Dexus is up 2 per cent and is selling shares for $9.18 each.
