New Zealand's Stride Property falls on HY loss, reduced dividend forecast

Stride Property

24/11/2022 24:58

** Shares of Stride Property Ltd  SPG.NZ  fall as much as
6.2% to A$1.510, their biggest intraday pct fall since Sept 27 
    ** The investment property manager reports a HY loss after
income tax attributable NZ$53.1 mln ($33.16 mln) vs profit of
NZ$61.5 mln in the previous corresponding period 
    ** Adds it reduces its dividend forecast guidance to 8.00 NZ
cents per share from 9.91 NZ cps given at time of FY22 results
in May 
    ** However, co posts HY net rental income of NZ$34.1 mln, up
11.2% from the previous year 
    ** Stock posts its lowest since Oct 25
    ** More than 278,000 shares change hands, vs the 30-day
average volume of 263,000 shares
    ** Stock has fallen 23.7% this year as of last close
($1 = 1.6013 New Zealand dollars)
 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@Thomsonreuters.com))