SPH Reit's 3-month DPU 6.1% higher than forecast
SPH Reit Management has reported an income distributable to unitholders of $34.9 million for the fourth quarter.
This translates to a distribution per unit (DPU) of 1.39 cents for the three months ended on Aug 31, which is 6.1 per cent higher than had been forecast when the Reit was listed.
The distribution will be paid to unitholders on Nov 14.
This is SPH Reit's first full financial year.
The aggregate DPU of 5.99 cents for the period from July 24 last year to Aug 31 this year - the full financial year plus the 39 days preceding it - was higher than forecast by 3.8 per cent.
The distribution represents a yield of 6 per cent based on the Reit's initial public offer price of 90 cents, and 5.1 per cent based on its closing price of $1.065 on Aug 29.
Both Paragon and The Clementi Mall were fully leased, with gross revenue in line with the forecast.