The Mirvac Group (ASX:MGR) reveals a reduction in value of properties

The Mirvac Group (ASX:MGR) today announced that its distribution for the year ending 30 June 2020 is 9.1 cents per stapled security.

Taking into account the half year distribution already paid of 6.1 cents per stapled security, the distribution for the half year ending 30 June 2020 is 3.0 cents per stapled security.

The distribution is expected to be paid on 14 September 2020.

Investment Property Preliminary valuations for 30 June 2020 across 63 assets indicate a reduction in value of $306 million, or approximately 2.8 per cent compared to the book value as at 31 December 2019.

Final valuations could result in a change in aggregate asset value as at 30 June 2020.

Shares in Mirvac Group (ASX:MGR) are trading 1.1 per cent lower at $2.37.

 
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Source: Finance News Network