Charter Hall Annual General Meeting
Charter Hall held its AGM this week, confirming their earlier results of a 5% increase in operating earnings per security for the financial year, and a 6% increase in dividends. Taking into account the change in security price and dividends paid, securityholders enjoyed a 24.3% return from investing in Charter Hall Group securities for the financial year 2018.
Charter Hall began this financial year began with $3.4bn in available investment capacity consisting of existing cash balances and available lines in funds and balance sheet. The group intend to look to invest this capital alongside their partners.
The recent acquisition of Folkestone has helped the group to grow its total FUM by 13.8% to 26.4bn. Following the Folkestone transaction, the Folkestone CEO, Greg Paramor, AO has been invited to join the Charter Hall Group board.
There were no other significant announcements about the business direction, other than the continuation of the same Charter Hall focused on extending leases on all assets to maximise the WALE and to continue to hold a conservative balance sheet, with low gearing, long maturities and diversified debt and equity sources.