Stockland (ASX:SGP) drops 2.8%, payout update out — focus turns to CPI
Stockland released its second-half distribution estimate and gave an update on its distribution reinvestment plan at 8:33 a.m. Tuesday. Three minutes after that, the company posted a formal distribution notice. The back-to-back releases point investors back to income returns after Stockland securities dropped sharply. Stockland finished Monday at A$4.18, down 12 cents or 2.79%. The S&P/ASX 200 eased 0.14% to 8,816.1. There was no market reaction seen before the regular session.