Quote Originally Posted by Beagle View Post
No mention of how they're getting on with selling their regional malls that have bene on the market for a very long time now.
Yet another multi million dollar write-down coming for them ?
I do remember them saying last year if they couldn't sell them then it was good for short term eps so this dividend probably mostly reflects that.
Whether that's a good thing or not in the medium term remains to be seen.
A write down could be brutal. Centre City in New Plymouth sold for $20m against a valuation of about $65m. It has earthquake code issues but that is a brutal discount for AMP to take selling it.
I think P North was meant to be worth about $200m but maybe the real value is $150m or so.