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Ascendas Reit posts 12.3% drop in Q3 DPU to 3.507 S cents

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Ascendas Reit posts 12.3% drop in Q3 DPU to 3.507 S cents.

ASCENDAS Reit's distribution per unit for the third quarter of FY2019 fell 12.3 per cent year-on-year to 3.507 Singapore cents.Gross revenue for the quarter under review rose 5.9 per cent from a year ago to S$239.73 million, bolstered by contributions from 28 properties in the US and two properties in Singapore, acquired in December last year.

Net property income increased 8.5 per cent to S$182.28 million, owing to the effects of adopting accounting standard FRS 116. Land rent expenses of S$8.2 million were recorded in Q3FY18/19 but none were recorded in Q3FY19. Amount available for distribution edged up 2.1 per cent to S$126.93 million, in line with the increase in net property income. The DPU for the three months ended Dec 31, 2019 will be paid on March 4.

 

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