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Dexus Convenience Retail REIT maintains 20.9 cents payout
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Dexus Convenience Retail REIT maintains 20.9 cents payout

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  • Dexus Convenience Retail REIT achieved its FY26 guidance by confirming a full-year distribution of 20.9 cents per security.
  • The underlying portfolio recorded a valuation uplift of $27.4 million, leading to a 6% increase in net tangible assets.
  • The fund updated its distribution policy to target a 95–110% payout ratio to adjust for higher interest rates.

Dexus Convenience Retail REIT (ASX:DXC) reported its FY26 results, confirming a full-year distribution of 20.9 cents per security.

The final payout met prior market guidance and was supported by a 3% like-for-like portfolio income growth.

The underlying portfolio recorded a valuation uplift of $27.4 million, leading to a 6% increase in net tangible assets.

"DXC has delivered FFO and distributions in line with guidance," said Dexus Convenience Retail REIT Fund Manager Pat De Maria.

The trust expanded its active securities buy-back target to 5% to allocate capital amid listed property market pricing differences.

The company stated that contracted rental growth will drive payout normalisation, and following the announcement, the Dexus Convenience Retail REIT share price was up at $2.67.

Management recently finished the Glass House Mountains Northbound Highway retail development, securing an 18-year weighted average lease expiry.

The fund also exchanged contracts to divest three smaller properties for $8 million at a 1.4% book value premium.

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