NZL to reinstate dividends
New Zealand Rural Land Co (NZL) has announced its intention to reinstate the company’s dividend and amend its dividend policy.
New Zealand Rural Land Co (NZL), which leases out highly productive farms, made a net profit after tax of $2.5m last financial year.
NZL owns 14,487 hectares of productive rural land in New Zealand which it says is fully tenanted on long-term leases with regular CPI adjustment provisions.
NZL says it generates shareholder value through a combination of asset value appreciation and cash flows from its long-term leases.
NZL chair Rob Campbell says its strategy is to own quality rural land in New Zealand, and to grow and diversify its portfolio while delivering attractive risk-adjusted returns.
"NZL's leases incorporate regular, uncapped, CPI reviews.
"This means higher inflation results in higher than anticipated rental growth. NZL is insulated from inflation-impacted and all other operational on-farm costs by owning only the land," he says.
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