NZ's Vital Healthcare Property gains on Q1 profit jump, dividend

Vital Healthcare Property Trust

10/11/2020 03:03

** Shares of Vital Healthcare Property Trust  VHP.NZ  rise
as much as 3% to NZ$3.050, biggest intraday pct gain since Aug.
19
    ** Healthcare investment fund reports a 9.1% increase in net
property income for Q1 FY21 and lower expenses, leading to a
30.4% jump in operating profit  urn:newsml:reuters.com:*:nFWN2HV1DG
    ** Co declares Q1 dividend of 2.1875 cents/shr
    ** Says its existing NZ$250 mln ($170.95 mln) development
pipeline remains underway with significant progress recorded
during Q1 in New Zealand and Australia
    ** Stock hits highest level since Sept. 8 and set for a
third straight day of gains 
    ** As of last close, stock up ~5% this year 


($1 = 1.4624 New Zealand dollars)

 (Reporting by Shriya Ramakrishnan in Bengaluru)
 ((Shriya.Ramakrishnan@thomsonreuters.com;))