PFI boosts dividend

Listed industrial property investor Property For Industry yesterday posted a larger nine-month profit and said it was increasing its dividend payment.

A buoyant property market, high occupancy rates, rising rents and acquisitions boosted PFI's net profit for the nine months to September 30 by 4.5 per cent on the same period a year ago to $10.2 million.

Rentals for the nine-month period rose 10 per cent to $19.62 million.

The company will pay a third-quarter dividend of 1.55c a share plus imputation credits of 0.35c.