The Goodman Property Trust distributions to investors for the year ended March were unchanged, even though the company's annual distributable earnings rose more than 15 percent.
The trust's bottom line result rose a much stronger 72 percent to more than $134 million for the year.
Rental income rose 25 percent to nearly $127.8 million during the year while the value of the trust's properties rose by $23.8 million.
Annual cash distributions of 6.25 cents per unit are unchanged from the previous year but the manager is forecasting a 3 percent rise in distributions to 6.45 cents per unit in the current year.
The chief executive of the trust's manager John Dakin said the trust had been investing heavily in development.
The trust has just sold SMEC House in Newmarket for just over $26 million.
The manager had modified the management fee structure with some fees now being paid in units from now on.
If the new structure had been in place for the year just gone, Goodman's distributable earnings per share after tax would have been 8.23 cents rather than the actual 7.68 cents.
Mr Dakin said the manager was committed to having a competitive fee structure.
