Precinct first quarter dividend

Precinct shareholders will receive a first-quarter dividend of 1.575 cents per share plus imputation credits of 0.015298 cents per share. Offshore investors will receive an additional supplementary dividend of 0.006942 cents per share to offset non-resident withholding tax. The record date is 28 November 2019 and payment will be made on 12 December 2019. 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: Richard Hilder Chief Financial Officer Email: richard.hilder@precinct.co.nz 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 Auckland's PwC Tower, AMP Centre, ANZ Centre (50%), Zurich House, HSBC House, Mason Bros. Building, 12 Madden Street, 10 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 owns Generator NZ, New Zealand's premier flexible office space provider. Generator currently offers 13,200 square metres of space across four locations in Auckland. End CA:00344594 For:PCT Type:CORPACT Time:2019-11-20 10:58:24