Dexus Convenience Retail REIT

Distribution information

Dexus Convenience Retail REIT provides below its distribution history and information relating to its Distribution Reinvestment Plan.

Distribution history

Distribution Reinvestment Plan

Dexus Convenience Retail REIT (DXC) has established a Distribution Reinvestment Plan (DRP) which, when in operation, provides security holders with a convenient method of reinvesting all or part of their distributions to obtain additional securities in DXC, without having to pay the cost of brokerage.

The DRP is not active for the December 2023 quarter distribution.

DRP Overview

Participation in the DRP is optional, but the registered address of your security holding must be in Australia or New Zealand. There is currently no minimum or maximum number of securities required for participation.

Benefits of security holders participating in the DRP include:

• Distributions may be reinvested to receive additional securities without paying brokerage or other transaction costs.
• A discount to the trading price may be received on securities acquired under the DRP (at the discretion of Directors)
  

The Directors have the discretion to determine whether a discount will apply in respect of a particular distribution and, if so, the level of discount (subject to a maximum discount specified in the DRP rules of 10%). 

Positive cash balances on DRP accounts are carried forward and applied to the next distribution paid by the DXC.

Eligible security holders may elect to participate in the DRP in respect of all or part of their holding and, subject to the terms of the DRP, may vary their level of participation or withdraw from the DRP at any time.

DRP Participation

If you wish to participate in the DRP, you may either:

• Complete the DRP Election Form and forward it to:
  Locked Bag A14
  Sydney South NSW 1235 Australia 
• Or, if the market value of our holding is less than $50,000, you can complete the DRP Election Form electronically by logging into your holding on the Link Market Services Investor Centre website

 Further assistance is available by telephoning the Registry on +61 1800 819 675 or email dexus@linkmarketservices.com.au. Separate Election Forms are required for each registered holding.

Dexus Convenience Retail REIT recommends security holders read the DRP rules carefully before determining whether or not to participate in the DRP.

Taxation Information

Dexus Convenience Retail REIT (DXC) was established and listed on the Australian Securities Exchange on 27 July 2017.

DXC is a stapled group and that means that each DXC Security comprises a unit each of the below entities that are stapled together, so an individual unit in one of the entities may not be transferred or dealt with, without the others.

• Convenience Retail REIT No.1
• Convenience Retail REIT No.2
• Convenience Retail REIT No.3 

For Australian tax purposes the consequences of amounts paid to security holders on their DXC Securities and the consequences of a sale of their DXC Securities requires an analysis of what is happening in respect of each of the three stapled securities that make up an DXC Security.

Distributions and tax

Dexus Convenience Retail REIT pays distributions quarterly. The Australian tax components of the distributions received each financial year and guidance for Australian tax payers about how to record the distributions received in their tax returns are described in the Attribution Managed Investment Trust Member Annual Statements.

Components of your distributions are available below:

Fund Payment Notices

Managed Investment Trusts like Dexus Convenience Retail REIT are required to provide some specific information about their distributions to the ASX to assist custodians to determine the amount of Australian withholding tax to deduct from on payment to investors. A historical record of these quarterly notices is available in our ASX Announcements section here.

Security Cost Base (Capital Gains Tax)

The Australian tax consequences of the sale or other disposal of an DXC Security and the allocation of any Attribution Managed Investment Trust (AMIT) cost base net amount – excess/shortfall (as detailed on the annual Taxation Component Statement) will typically depend on the cost base that the security holder has in the their DXC Securities.

This cost base needs to be determined in respect of each of the three different securities that make up each stapled DXC Security and this needs to be done in respect of the various tranches of DXC Securities the security holder has.

The cost base of DXC Securities a security holder has will be calculated in a different way depending on whether the DXC Securities were acquired in the 2017 IPO (described above), were acquired as a result of an investment in a predecessor fund (APN Portfolio Plus Property or APN Retail Property Fund) or were acquired after the IPO (e.g. purchased on the ASX).

• Security holders that acquired their DXC Securities as a result of participating in the 2017 IPO will have a cost base as outlined here.
• Security holders that acquired their DXC Securities as a result of an original investment in the predecessor fund, APN Portfolio Plus Property, will have a cost base as outlined here.
• Security holders that acquired their DXC Securities as a result of an original investment in the predecessor fund, APN Retail Property Fund, will have a cost base as outlined here.

Security holders that have acquired DXC Securities since the 2017 IPO need to set the cost base they have by allocating the cost of each DXC Security over the separate assets that make up the stapled securities on a reasonable basis. The way this can be done, as well as the allocation of sale proceeds (to calculate any taxable gain on sale), is to apply a Net Asset Value approach in respect of the 3 stapled entities using the following information: