Ascendas Hospitality Trust's Q4 DPS rises 4%

Singapore

BETTER margins in Australia and China for Ascendas Hospitality Trust along with some of the proceeds from its sale of the the Pullman Cairns International hotel in Australia lifted its fourth-quarter income available for distribution.

Distribution per stapled security (DPS) for the three months ended March 31 rose 4 per cent from the previous year to 1.3 Singapore cents, the trust said in a Singapore Exchange filing on Thursday. This was after retaining some income for working capital purposes, it added.