On a like-for-like basis, MUST’s DPU for 2HFY2022 fell by 10.3% y-o-y to 2.36 US cents.
Manulife US REIT (MUST) has reported a distribution per unit (DPU) of 2.14 US cents (2.835 cents) for the 2HFY2022 ended Dec 31, 2022, 18.6% lower than the DPU of 2.63 US cents reported in the 2HFY2021.
This comes after the REIT decided to retain US$3.8 million from its distributable income in the 2HFY2022 for general corporate and working capital purposes on the back of the “volatile macroeconomic environment” and decline in asset valuation. The payout ratio for the 2HFY2022 still stands at 91%. According to the REIT, the implementation of its payout ratio comes as MUST seeks to improve its financial flexibility.
