Divestment gain lifts Parkway Life Reit's Q1 DPU by 9.6%

Singapore

DISTRIBUTION from a one-off divestment gain lifted the distribution per unit (DPU) of Parkway Life Real Estate Investment Trust (Reit) to 3.28 Singapore cents in the first quarter of 2017, up 9.6 per cent from a year ago.

For the three months ended March 31, 2017, the DPU from its recurring operations grew 2.2 per cent to 3.06 Singapore cents, despite the divestment of four Japan nursing homes in December 2016. This was underpinned by interest cost savings from the refinancing exercise completed in 2016 and Q1 2017.