Charter Hall will reward shareholders with an increased total dividend after posting a strong lift in full-year profit, and expects both local and international demand for Australian property to remain strong in the year ahead.
In the year to June 30, Charter Hall posted a net profit of $117.9 million, a 43.6 per cent increase on the previous year's
Revenue in the period rose 10.7 per cent to $135.8m.
The property fund manager and developer will pay a final dividend of 12.1c on August 31 to shareholders who were on the register at June 30.
Combined with the interim dividend, also of 12.1c, Charter Hall's total dividend for the year comes to 24.2c, up on 22.3c a year earlier.
In fiscal 2016, Charter Hall expects growth in operating profits of between 5 and 7 per cent, barring unexpected events. It is targeting a distribution ration of between 85 per cent and 95 per cent of operating earnings per security
Charter Hall's joint managing director David Harrison said the group expects quality Australian property to remain attractive to both domestic and offshore investors given the high Australian property yield spread to bond yields.
He added that "the cost of debt remains near record lows and we will continue to deliver on our strategy to provide attractive property opportunities for our investors and tenants."
Charter shares rose 1.14 per cent to $4.43 against a benchmark index increase of 0.7 per cent.