Westfield Group (WDC) will go ex dividend on 9/2/2012. The current dividend payment is 24.2 cents and it is 0% franked. The record date is 15/2/2012 and the dividend will be paid on 29/2/2012. Based on the full year payment the dividend yield is 5.5%.
*Current Yield: 2.8% Franking: 0% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 3/2/2011. Current yield is based on the current dividend payment only.
The Westfield Group (WDC) announced its entry into Brazil through the strategic acquisition of a 50% interest in Almeida Junior Shopping Centers S.A., a vertically integrated owner, manager and developer of Brazilian shopping malls. As a result of this acquisition, WDC will expand its global platform into the growing Brazilian shopping centre market.
The Chairman of Westfield Group, Mr Frank Lowy AC, said: “Today’s announcement represents an exciting and significant strategic investment for the Group which expands our global franchise into this large and high potential market. “This is our first new market entry since we entered the United Kingdom in 2000 and follows the restructure of the Group in late 2010. Whilst the climate in the world financial markets is volatile at present, this transaction is in the Group’s long term investment and funding plan, and one we have been investigating for an extensive period of time.”
WDC will invest R$740 million (A$440 million) and become a 50% owner and active partner in the company to be renamed Westfield Almeida Junior Shopping Centers S.A. Westfield Almeida Junior will own and operate five shopping centres in southern Brazil, including two currently under development. It undertakes all aspects of shopping centre design, development, construction, leasing, marketing, management and ownership along similar lines to WDC. Under the terms of the transaction, Westfield will invest a total of R$740 million (A$440 million) in acquiring a 50% interest in the company, valuing the company at R$1,480m (A$880m). The valuation for the company represents an 11.2 times EBITDA multiple on first year forecast earnings.
The Westfield Group (WDC) is an internally managed, vertically integrated, shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities and employing over 4,000 staff worldwide. The Westfield Group has interests in and operates one of the world’s largest shopping centre portfolios with investment interests in 124 shopping centres across Australia, the United States, the United Kingdom, New Zealand and Brazil, encompassing around 25,000 retail outlets and total assets under management in excess of A$59 billion.
http://www.traderdealer.com.au/fundamentals/wdc
The Westfield Group (WDC) and Costco Wholesale Corporation announced a multiple site agreement for the addition of Costco stores at Westfield centers in three U.S. markets: Los Angeles, California; Sarasota, Florida and Wheaton, Maryland.
“We are pleased to partner with Westfield and look forward to providing great value and convenience to current and future Costco members in three vibrant markets,” said Jim Sinegal, CEO of Costco. “It is specially exciting to join new communities such as Sarasota and Wheaton, as well as to join forces with Westfield in Los Angeles – right in the heart of the San Fernando Valley’s Warner Center business district. We are delighted to be welcoming Costco to Westfield,” said Peter Lowy, Westfield Group Managing Director. “The introduction of Costco illustrates Westfield’s aim to introduce new goods and services into the malls – investing in new elements, new energy, new conveniences and new choices for Westfield shoppers. The integration of Costco into our U.S. portfolio takes the shopping experience to a whole new level.”
In Los Angeles, an approximately 146,000 square foot Costco is to anchor the proposed “Village at Westfield Topanga,” sited between Westfield’s existing Topanga and Promenade centers. The Village will encompass nearly one million square feet of new retail, dining, hotel and office area along with community and cultural uses, courtyards and gathering spaces. The inclusion of Costco will allow for a particularly seamless integration with Westfield Topanga, whose own recent $350 million redevelopment and expansion featured the addition of Target and Neiman Marcus along with 300,000 square feet of new shops, restaurants and upscale dining terrace. In Sarasota, Florida, a former department store site will be redeveloped to house an approximately 145,000 square foot Costco at Westfield Sarasota Square. This would be Costco’s first location in a wide expanse along Florida’s Gulf Coast stretching across Manatee, Sarasota, and Charlotte counties. Currently, the nearest Costco warehouse clubs to Sarasota are located over 40 miles away. Westfield Sarasota Square is a 900,000+ square foot regional shopping center currently anchored by JCPenney, Macy’s, and Sears, along with a diverse mix of more than 130 shops and restaurants.
The Westfield Group (WDC) is an internally managed, vertically integrated, shopping center group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities and employing approximately 4,000 staff worldwide. The Group has investment interests in 119 shopping centers in Australia, the United States, the United Kingdom and New Zealand, with a total value of assets under management in excess of A$59 billion and is the largest retail property group in the world by equity market capitalization. In the U.S., the Group has a portfolio of 55 shopping centers that are home to more than 9,000 specialty stores and comprise approximately 63 million square feet of leasable space in California, Connecticut, Florida, Illinois, Indiana, Maryland, Nebraska, New Jersey, New York, North Carolina, Ohio and Washington.
http://www.traderdealer.com.au/Fundamentals/wdc
Westfield Group (WDC) will go ex dividend on 10/8/2010. The current dividend payment is 32 cents and it is 0% franked. The record date is 16/8/2010 and the dividend will be paid on 31/8/2010. Based on the full year payment the dividend yield is 6.4%.
*Current Yield: 2.6% Franking: 0% DRP Discount: 2.5%
*Yield has been calculated on the closing price on the 23/7/2010. Current yield is based on the current dividend payment only.
