Prop. Trust payout

Press, 10 November 1983, Page 22

Prop. Trust payout

The New Zealand Property Trust is making an interim distribution from income received from the inception of the trust to September 30. This will be 4.5 cents per unit, less the trustee’s commission of 0.225 cents per unit making the net distribution to unitholders 4.275 cents per unit. The distribution will be payable on November 30. The trustee is the Trustees Executors and Agency Company of New Zealand, Ltd. The unaudited net income for the period to September 30 was $436,485. The net proposed interim distribution on the 7,500,000 units on issue requires $337,500. The balance of the income will be distributed at the end of May, 1984, after the accounts to March 31, 1984, have been prepared and au- , dited. The trust has no liability for taxation on the income earned to date. The net amount received by each unit holder will be subject to tax. The trustee says it has been actively pursuing the purchase of additional properties within specific investment criteria and is confident that it will acquire the type of investment appropriate for the trust