New Zealand's Kiwi Property Group drops on lower annual profit

Kiwi Property

18/05/2026 04:25

** Shares of Kiwi Property Group KPG.NZ down as much as 3.2% at NZ$0.91, their lowest level since May 1

** The property company posts full-year net profit after tax of NZ$50.4 million ($29.40 million), down 11.5% from a year before

** However, the company plans to pay a fourth-quarter cash dividend of 1.40 NZ cents per share, bringing the full-year dividend to 5.60 NZ cents per share, which is 3.7% higher than the previous year

** Stock down 13.3% this year, including the day's move

($1 = 1.7144 New Zealand dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))