Including the retained distributable income of US$1.3 million as capital reserves, 2HFY2023 net income available for distribution fell by 18.2% y-o-y to US$13.8 million, bringing the full year’s distributable income to US$30.4 million, 8.2% lower y-o-y.
United Hampshire US REIT has reported a distribution per unit (DPU) of 4.79 US cents (6.4 cents) for the FY2023 ended Dec 31, 2023, 18.5% lower y-o-y.
DPU for the 2HFY2023 fell by 27.9% y-o-y to 2.14 US cents as the REIT manager elected to receive 100% of its base fee in cash instead of units. The move was made to “preserve unitholder value and minimise unit base dilution” says the manager.
