Parkway Life REIT declares 1Q DPU of 3.17 S'pore cents, 3.4% lower than a year ago in absence of one-off distribution gain

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SINGAPORE (April 30): The manager of Parkway Life REIT (PLife REIT) has declared a 1Q18 distribution per unit (DPU) of 3.17 Singapore cents, down 3.4% from its 1Q17 DPU of 3.28 Singapore cents due to the absence of a one-off distribution of divestment gain in the previous year.

This translates to a 3.4% lower annualised DPU of 12.68 Singapore cents compared to 13.12 Singapore cents a year ago, as well as an annualised distribution yield of 4.53% based on the REIT’s Mar 29 closing price of S$2.80, which is also 3.4% lower from the annualised distribution yield of 4.69% in 1Q17.

Excluding the one-off, DPU from the group’s recurring operations, which refers to the net of amount retained for capital expenditure, grew 3.6% to 3.17 Singapore cents over the quarter from 3.06 Singapore cents a year ago... (Click here to read the full story)