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New Zealand Rural Land Co. Ltd. ( (NZ:NZL) ) has issued an update.
New Zealand Rural Land Company reported a solid FY25 performance, delivering net profit after tax of $7.9 million and Adjusted Funds From Operations of $7.9 million, underpinned by CPI-linked rental growth and disciplined capital management. The company expanded annual rental income by about $290,000 through the acquisition of a high-yield Canterbury dairy farm funded partly by selling two pastoral properties above book value, while lifting AFFO per share and reducing gearing.
Following an independent capital review by KPMG, NZL has repositioned itself as a specialist yield vehicle focused on sustainable, reliable cash returns and revised its dividend policy to pay quarterly distributions of about 90–100% of AFFO, while suspending its dividend reinvestment plan. The board is also reviewing its composition after an external governance assessment, and the company is forecasting higher AFFO for FY26 on the back of CPI-linked leases, positive agricultural sector fundamentals and a strategy that prioritises per-share accretion and yield-focused capital allocation.
More about New Zealand Rural Land Co. Ltd.
New Zealand Rural Land Company is a specialist rural land investor that owns and leases agricultural properties across New Zealand. Its portfolio spans dairy, pastoral, horticulture and forestry assets over more than 17,000 hectares, generating income through long-term CPI-linked leases to diversified farming and horticultural operators.
Average Trading Volume: 187,867
Technical Sentiment Signal: Hold
Current Market Cap: N$135.2M
Learn more about NZL stock on TipRanks’ Stock Analysis page.