FCT raises H1 DPU by 2.3% on improved operating, financial performance

FRASERS Centrepoint Trust (FCT) posted a 2.3 per cent rise in distribution per unit (DPU) to S$0.06136 for its first half ended Mar 31, 2022, from S$0.05996 a year ago, as the real estate investment trust (Reit) saw an improved operating and financial performance in the period.

The increase comes despite FCT retaining S$4.8 million of its taxable income available for distribution to unitholders in H1.

In a briefing accompanying the results announcement on Apr 27, the chief executive officer of FCT's manager, Richard Ng, said the retention was for “prudence” as the latest easing of Singapore’s Covid-related safe management measures had not yet been announced when the terms of the distribution were being worked out.