1.65c dividend for PFI

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Property for Industry is paying a third-quarter dividend of 1.65c per share after releasing its nine-month result yesterday.

The third-quarter dividend is payable on November 15, and brings total dividends so far this year to 4.75c per share, which is the same level as the previous corresponding period.

New Zealand's only listed company specialising in industrial property investment reported a net operating profit after tax of $13.7 million in the nine months to September 30, up 15.3 per cent on last year.

The company reported a net loss after tax and unrealised losses of $25.747 million for the nine-month period when a $35.311 million deferred tax liability is taken into account. This is a one-off non-cash adjustment.

PFI's net tangible assets per share was steady at 93 cents at September 30. Excluding the deferred tax liability, it was $1.09.

- NZPA