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First Reit declares record DPU of 2.02 cents for Q3

Friday, October 17, 2014 - 19:05
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FIRST Real Estate Investment Trust (First Reit) has posted a record distribution per unit (DPU) of 2.02 Singapore cents for the third quarter ended September. -- PHOTO: SPH

FIRST Real Estate Investment Trust (First Reit) has posted a record distribution per unit (DPU) of 2.02 Singapore cents for the third quarter ended September.

This is a 3.1 per cent year-on-year increase, on the back of distribution to unitholders increasing 6.1 per cent to S$14.7 million.

Net property income (NPI) for the third quarter rose 7.9 per cent to S$23.5 million from S$21.7 million a year ago, said the healthcare Reit yesterday.

On a nine-month basis, First Reit's gross revenue rose 14.7 per cent from S$60.4 million to S$69.4 million, while NPI rose 16.7 per cent from S$58.6 million to S$68.3 million. Distributable income rose 13.5 per cent to S$43.3 million.