Australand flags higher dividend

Property group tells shareholders it expects to increase distributions.

Australand Property Group expects to lift its 2014 dividend by 19% to 25.5c per security, managing director Bob Johnston told shareholders at its annual general meeting.

The quality of the business, underlying projects and current strong conditions in key residential markets provide the group with confidence on its medium-term outlook, he said.

Mr Johnston reaffirmed the property group's target of growth in operating earnings per security of 17% to 20% in 2014.