NZ's Stride Property jumps most in 2 months on upbeat FY results

Stride Property

26/05/2023 02:09

** Shares of Stride Property Ltd  SPG.NZ  jump as much as
3.8% to NZ$1.360, hitting their highest level since March 21 
    ** The investment property manager posts FY23 distributable
profit after current income tax of NZ$57.6 mln ($36.54 mln), up
by NZ$3.5 mln from FY22
    ** Posts FY23 net rental income of NZ$71.1 mln, up by NZ$5.2
mln from FY22
    ** Says total combined cash dividend for FY23 8.0 NZ cents
per share 
    ** Shares post their biggest intraday pct gain since March
27 and are on track to post a second consecutive session of
gains 
    ** SPG stock down 7.7% YTD, as of last close 
    

($1 = 1.5763 New Zealand dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))