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Stockland will not operate distribution reinvestment plan for H1'18

Australian diversified property developer Stockland said its distribution reinvestment program will not operate for the six-month distribution period ending June 30.

The company said it expects to announce an estimated distribution for the period in June, and final distributions will be paid to security holders Aug. 31.

The company had suspended its distribution reinvestment plan for the half year ended Dec. 31, 2017, over concerns that security holders will be disadvantaged if the scheme is pursued.