Abacus Property Group: Result 2012

Abacus continues to tick along nicely, with the group increasing both rents and occupancy for the year.

Abacus Property Group owners have recently banked another 8.25 cent per security final unfranked distribution (ex date already passed). This brings the annual total to 16.5 cents, in line with last year, placing Abacus on a 8.1% yield. Underlying earnings for the year increased 7% to $76.9m but fell on a per security basis due to new securities on issue following Abacus’s merger with the Abacus Storage Fund (see Abacus and Storage Fund to merge from 18 Jan 12 (Long Term Buy – $1.90)).

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