Ascott Trust Q1 DPU falls 22% on rights issue dilution

ASCOTT Residence Trust (ART) posted a 22 per cent year-on-year drop in distribution per unit to 1.75 cents for the first quarter of this year due to dilution from shares issued following a one-for-five rights issue last December, as well as the Q1 2013 figure being boosted by an $8.1 million one-off foreign exchange gain.

The forex gain arose from…