GMT Distribution Payment

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz


nzx release+
GMT Distribution Payment
Date
19 March 2020
Release
Immediate

Further to the announcement of 21 February 2020, Goodman (NZ) Limited, the
Manager of Goodman Property Trust, is pleased to advise the third quarter distribution,
for the year ending 31 March 2020, will be paid to Unitholders today.
For further information please contact:
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $2.8 billion, ranking it in
the top 20 of all listed investment vehicles. The Manager of the Trust is a subsidiary of the ASX listed Goodman Group,
Goodman Group is also the Trust’s largest investor with a cornerstone unitholding of 21.4%.
GMT is New Zealand’s leading industrial space provider. It has a substantial property portfolio, with a value of $3.0 billion.
The Trust holds an investment grade credit rating of BBB from Standard & Poor’s.

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Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz


19 March 2020


[Unitholder Name]
[Address 1]
[Address 2]
[Address 3]
[Address 4]


Dear Unitholder

GOODMAN PROPERTY TRUST (“GMT” and “Trust”)
I’m pleased to advise investors that the third quarter distribution, for the period ended
31 December 2019, has now been paid. The distribution includes a cash component
of 1.6625 cents per unit with 0.288430 cents per unit of imputation credits attached.
CORONAVIRUS UPDATE
The impact of the Covid-19 pandemic on the NZ economy is expected to be
widespread, causing significant disruption to many industries.
While GMT is likely to be affected to some extent, we have a robust business.
There are around 200 customers in the portfolio, occupancy is over 99% and the
weighted average lease term is more than five years. These factors ensure rental
cashflows are contracted well into the future. The Trust’s balance sheet is also strong
with committed gearing of just 20.7%, as at 29 February 2020.
We are working closely with the manager of GMT, Goodman Group, to ensure the
safety of staff and customers remains paramount. Business continuity arrangements
mean we expect to remain fully operational and able to support our customers.
Unless there is a material change in the operating environment the next business
update will be the Trust’s FY20 annual result, expected to be announced on the 14
May 2020.
Yours faithfully,

Keith Smith
Chairman