Property Investment business, Abacus Property Group (ABP) said on Tuesday its shareholders can expect an 8% increase in the annual distribution in the new year.
The company said the quarterly distribution will increase by 7.7% to 3.5 cents per stapled security from 1 January 2008.
This brings the total distribution for the financial year to 30 June 2008 to 13.5 cents per stapled security representing an 8% increase in the annual distribution over the last financial year.
"Consistent with historic performance, Abacus expects that distributions in the current financial year will be fully funded from normalised earnings," the company said.
Abacus Property Group is a listed diversified property group included in the S&P/ASX300 Index. It specialises in investing in property-based assets and actively managing those assets to enhance income and capital growth.
Its market capitalisation is approximately $1.2 billion.
Shares fell 10 cents to $1.60 by 12.44pm AEST.
