Stockland (ASX:SGP) expects to pay a dividend of AU$0.08 per ordinary stapled security for the first half ending Dec. 31, according to a Wednesday filing with the Australian bourse.

The dividend has a record date of Dec. 31 and will be paid on Feb. 28, 2025.

In line with the distribution reinvestment plan (DRP) announced on Nov. 14, security holders will be entitled to receive a full distribution and may elect to participate in the DRP for the full distribution or in part, the filing stated. Those who will do so will receive a 1% discount on the ordinary stapled securities acquired under the DRP.

The company's shares gained about 1% in recent Wednesday trade.

Price (AUD): $5.03, Change: $+0.05, Percent Change: +0.90%