Answers to questions you may have about Vital Healthcare Property Trust.
How do I invest?
Vital Healthcare Property Trust is listed on the New Zealand Exchange (NZX). You can buy units in the Trust as you would buy shares through your financial adviser, stockbroker or an online broker.
What is the Trust's NZX code?
What does 'listed' mean?
A Trust is listed when its units are quoted (or listed) on a stock exchange. The units of VHP are listed on the New Zealand Stock Exchange (NZX). The units are actively traded each day so their value will vary according to market conditions.
What is a property trust?
A property trust is an investment vehicle that pools the money of many investors so they can share in the returns of a wide spread of property investments. For example, the Trust has a portfolio of healthcare infrastructure assets valued at approximately $1.07 billion as at 31 December 2016. When investors buy units in VHP, they are effectively acquiring a share of the ownership of these assets. The returns from these assets are the rental income paid by our tenants and are distributed to unitholders.
Is the Trust a PIE?
Yes, the Trust is a listed PIE. Under the PIE regime, unitholders benefit from the tax deductions of the Trust, and most unitholders (including New Zealand resident individuals and New Zealand resident trustees) will have no further tax to pay on their distributions. A component of distributions is excluded income for tax purposes, and the balance is imputed at the Trust tax rate of 28%. Where unitholders have a marginal tax rate below the PIE rate, they can apply for a rebate for the excess tax paid.
What is the difference between a dividend and a distribution?
Dividends are paid to shareholders by companies from the profits they make. Distributions are paid to unitholders by Trusts. Distributions are principally derived from rental income.
When are distributions paid?
The Trust distributes its income quarterly in arrears. Quarterly distributions for the periods ending 30 June, 30 September, 31 December and 31 March are paid within three months of the quarter end. For up-to-date information on dates, please view our Communications calendar.
Does the Trust have a Distribution Reinvestment Plan?
Yes, the Trust currently offers a Distribution Reinvestment Plan (DRP). For more information on the Trust's DRP and how to register, click here. To contact the Trust’s unit registrar, Computershare about registering, click here.
Is there a prospectus for Vital Healthcare Property Trust?
As the Trust is listed on the NZX, you do not need a prospectus to invest. You can simply buy or sell units in the Trust (VHP) by contacting your financial adviser, stockbroker or via an online broker. However from time to time the Manager may issue a Simplified Disclosure Prospectus as part of an equity raising initiative.
What is the value of my investment?
As the units of the Trust are listed on the NZX, their value can change daily. To calculate the value of your investment, just multiply the current unit price by the number of units you hold. Your number of units can be found on your latest distribution statement or through the Unit Registrar. Unit prices are available on a range of websites including the NZX and can be found in most major metropolitan newspapers.