Keppel REIT’s distribution per unit (DPU) in 2HFY2020 ended December rose 4.6% y-o-y to 2.93 cents, and in FY2020, DPU was 2.7% higher y-o-y to 5.73 cents. Historic distribution yield based on the closing price of $1.18 as at Jan 25 is 4.85%, while the annualised yield is 4.97%.
Distributable income in 2HFY2020 was $99.8 million bringing FY2020’s distributable income to $194.6 million, up 2.8% y-o-y. The REIT’s manager says the improvement in distributable income for FY2020 was due mainly to contributions from T Tower and Victoria Police Centre in Australia, as well as lower borrowing costs. In addiiton, the Australian dollar firmed against the Singapore dollar in the past couple of months.
