News: Mirvac FY profit lifts, eyes higher dividends

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Mirvac Group (ASX:MGR) is eyeing higher dividend payouts after lifting its annual profit over the last financial year. 

 

The property group increased its net profit by 220 per cent to $447.3 million in fiscal 2014, aided by its recent acquisitions. 

CEO Susan Lloyd-Hurwitz has described the year as tremendously successful with a number of acquisitions and disposals completed. 

An unfranked dividend of 4.6 cents per security has been declared, taking the full year payout to 9 cents. 

Looking ahead Mirvac has forecast an expected distribution of between 9.2 cents to 9.4 cents for the current 2015 financial year.