Precinct Properties New Zealand expects earnings per share to fall this year and dividends to remain unchanged as it focuses on development after completing its asset sale programme.

The Auckland-based listed property trust forecast a dividend of 5.4 cents per share for the 2016 financial year, the same level as the past two years, it said in a statement. It expects earnings before performance fees of about 6cps in 2016, down from 6.19c in 2015, and 6.24c in…