Keppel Reit reports DPU of 1.48 cents for Q4, 6.37 cents for full year
KEPPEL Reit announced on Tuesday a distribution per unit (DPU) of 1.48 Singapore cents for the fourth quarter of 2016, bringing the total DPU for the full year to 6.37 Singapore cents.
Its distribution yield for the year ended Dec 31, 2016, was 6.2 per cent.
The real estate investment trust also announced a high tenant retention rate of 95 per cent and a portfolio occupancy rate of 99.2 per cent as at the end of 2016.
Its rent reversion - for new, renewal, forward renewal and review leases - for all assets in its portfolio, however, was at -9 per cent for FY 2016.
Keppel Reit - which owns assets such as Ocean Financial Centre, Marina Bay Financial Centre and One Raffles Quay in Singapore, as well as assets in Australia - was conservative about prospects in the year ahead.
It said the challenging global economic environment is expected to have a continued dampening effect on the Singapore office leasing market, particularly in 2017.
Keppel Reit shares finished half a cent up at $1.045 on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 HDB shops, private strata retail units on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece