Lendlease Increases Dividend

Lendlease, the Australian real-estate developer, has recently announced a significant increase in its interim dividend by 33%. This positive news comes after the company managed to reduce its first-half loss and is gearing up for a strategy update before the end of the current fiscal year.

Financial Updates

In the six months ending in December, Lendlease reported a net loss of 136 million Australian dollars (US$88.8 million), showing an improvement from the net loss of A$141 million in the same period last year. Despite a decrease in revenue by 5% to A$4.92 billion, the company remains optimistic about its future trajectory.

Core operating profit, a crucial indicator closely monitored by analysts and investors, saw a decline of 42% to A$61 million. This figure fell below the average analyst forecast, which had projected a core operating profit of A$164 million based on revenue expectations of A$6.23 billion.

Dividend Increase

In a move to reward shareholders, Lendlease’s board announced an increase in the half-year dividend to 6.5 Australian cents, up from 4.9 Australian cents in the previous year.

Looking Forward

Lendlease has revealed plans for a comprehensive strategy update set to take place by late May, indicating a proactive approach to maintain its growth momentum in the market.

For more information, please visit Lendlease’s official website.