Ascott Reit full-year DPU dips on bigger base

ASCOTT Residence Trust (Ascott Reit) posted a 15 per cent rise to $26.3 million in unitholders' distribution for the fourth quarter ended Dec 31, 2013, raising full-year distribution to a record high.

The real estate investment trust said yesterday that full-year distribution was $114.8 million, up also by 15 per cent from FY2012's $99.7 million.

Distribution per unit (DPU) for Q4 dropped 34 per cent to 1.33 cents, from two cents a year ago, because of a rights issue launched last November.

The number of issued units was about 1.52 billion at the end of 2013, against about 1.14 billion at end-2012. For the same reason, full year DPU fell 4 per cent to 8.4…