Keppel REIT’s decline in 4Q DPU comes in spite of higher net property income for the quarter, which grew 15.3% on-year to $36.2 million compared to $31.4 million a year ago due to higher contributions from Bugis Junction Towers and Ocean Financial Centre.
SINGAPORE (Jan 23): The manager of Keppel REIT has reported a distribution per unit (DPU) of 1.43 cents for the quarter ended Dec 2017, down 3.4% on-year from 1.48 cents in 4Q16 after factoring in nearly $11 million of net tax and other adjustments.
The latest set of results represents a fourth straight quarter of DPU decline for the full year, and brings the trust’s FY17 DPU to 5.7 cents, down 10.5% from 6.37 cents the year before.
