Precinct Properties New Zealand : first quarter dividend

NZX announcement - 1 November 2018

Precinct first quarter dividend

Precinct shareholders will receive a first-quarter dividend of 1.50 cents per share plus imputation credits of 0.002754 cents per share. Offshore investors will receive an additional supplementary dividend of 0.00124959 cents per share to offset non-resident withholding tax. The record date is 19 November 2018 and payment will be made on 3 December 2018.

A supplementary dividend is paid to non-resident shareholders to offset the amount of non-resident withholding tax ("NRWT") that New Zealand companies are required to deduct from dividends paid to non-resident shareholders. A supplementary dividend is paid to ensure equitable treatment between non-resident shareholders and resident shareholders (whose dividends are not subject to NRWT).

There's no disadvantage to Precinct or our shareholders, and non-resident shareholders don't get a larger cash dividend than an equivalent New Zealand resident shareholder.

ends-

For further information, please contact:

Scott Pritchard	George Crawford
Chief Executive Officer	Chief Operating Officer
Office: [phone]	Office: [phone]
Mobile: [phone]	Mobile: [phone]
Email:[e-mail]	Email:[e-mail]
Richard Hilder
Chief Financial Officer
Office: [phone]
Mobile: [phone]
Email:[e-mail]
About Precinct (PCT)

Precinct is New Zealand's only listed city centre specialist investing predominately in premium and A-grade commercial office property. Listed on the NZX Main Board, PCT currently owns 14 New Zealand buildings - Auckland's PwC Tower, AMP Centre, ANZ Centre, Zurich House, HSBC House, Mason Brothers Building, 12 Madden Street and Commercial Bay; and Wellington's AON Centre, Dimension Data House, No. 1 and No. 3 The Terrace, Pastoral House, Mayfair House and Bowen Campus.

Precinct Properties New Zealand Limited

• [e-mail]

  Head Office

  Level 12, 188 Quay Street, Auckland 1010

  T 0800 400 599

  Wellington Office

  Level 19, 157 Lambton Quay, WellingtonT 0800 400 599

• Wwww.precinct.co.nz 2267

PO Box 5140, Auckland 1141, New Zealand

F [phone]

PO Box 2, Wellington 6140, New Zealand

F +64 4 494