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Growthpoint to change main earnings disclosure metric, releases FY'18 guidance

Growthpoint Properties Australia decided to report its earnings on a funds from operations per security basis, to better align itself with peers.

The company said the change will be reflected Aug. 21 when it reports its results for the fiscal full-year 2017. The company's primary method of calculating earnings is providing distributable income per security.

Growthpoint also said it expects funds from operations per security for the financial year ending June 30, 2018, to be at least 23.6 Australian cents. Distribution for the period, meanwhile, is expected to increase 2.3% year over year to 22.0 cents per security. The forecast per-security dividends comprise an interim dividend of 10.9 cents to paid in February 2018 and a final dividend of 11.1 cents in August 2018.

As of May 29, US$1 was equivalent to A$1.34.