DXC.ASX Announces FY26 Results
Key points
- Full-year distribution of 20.9 cents per security as expected
- Like-for-like income growth of 3.0%
- Glass House Mountains Northbound development completed and trading
Full summary
Dexus Convenience Retail REIT (DXC) announced its financial results for the year ended 30 June 2026, delivering a full-year distribution of 20.9 cents per security, in line with guidance. The company reported like-for-like income growth of 3.0%, supported by high occupancy and average rent reviews of 3.3%. DXC completed the Glass House Mountains Northbound development, which is fully leased and trading. The company also divested $8 million of assets at a 1.4% premium to book value, with proceeds supporting portfolio enhancement and capital management initiatives. DXC's balance sheet remains strong, with gearing of 30.6% towards the lower end of the target range and no debt expiries until FY28.
Guidance
Full-year distribution of 20.9 cents per security, reflecting an attractive distribution yield of 7.8% for FY27
Outlook
DXC is well positioned to deliver defensive and growing property income, with a focus on enhancing portfolio quality and maintaining balance sheet flexibility.
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