Insights

Here’s how big the DEXUS (ASX:DXS) dividend yield will be in FY 2021

The DEXUS Property Group (ASX: DXS) dividend yield is looking very generous in FY 2021…
The post Here’s how big the DEXUS (ASX:DXS) dividend yield will be in FY 2021 appeared first on The Motley Fool Australia. –

Happy young man and woman throwing dividend cash into air in front of orange background

The DEXUS Property Group (ASX: DXS) share price has come under pressure on Friday despite the release of an announcement.

In afternoon trade the property company’s shares are down 1% to $9.60.

What did Dexus announce?

This afternoon Dexus released an announcement which revealed its expectations for its distribution for the six months ending 31 December 2020.

According to the release, the company is expecting to reward shareholders with a 28.8 cents per share distribution for the first half.

This represents a 6.6% increase on the prior corresponding period when Dexus paid out 27 cents per share to shareholders.

Dexus’ shares will trade ex-distribution for this on 30 December. After which, eligible shareholders can look forward to being paid this distribution on 26 February.

As things stand, the company’s reinvestment plan remains suspended and will not be in operation for its interim distribution payment.

What about the full year?

In addition to its first half distribution guidance, Dexus provided investors with an idea of what to expect for the full year.

Subject to there being no reinstatement of any major COVID-19 lockdowns or other unforeseen circumstances, the company is expecting an FY 2021 full year distribution that is consistent with FY 2020.

In FY 2020 Dexus paid a full year distribution per share of 50.3 cents. Based on the current Dexus share price of $9.60, this represents a generous forward 5.2% distribution yield.

Is the Dexus share price in the buy zone?

One broker that believes the Dexus share price is in the buy zone is UBS. At the end of October, it put a buy rating and $10.59 price target on the company’s shares. It advised that it was pleased with its better than expected operating performance so far in FY 2021.

The broker’s price target implies a potential return of approximately 15.5% over the next 12 months including distributions.

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Returns As of 6th October 2020

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Here’s how big the DEXUS (ASX:DXS) dividend yield will be in FY 2021 appeared first on The Motley Fool Australia.

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