First Reit Q1 DPU down 13.5% to 1.86 S'pore cts
FIRST Real Estate Investment Trust (Reit) posted a distribution per unit (DPU) of 1.86 Singapore cents for the three months ended March 31, down from 2.15 cents a year ago. Rental and other income edged up 0.8 per cent to S$28.89 million for the quarter under review. Net property and other income was marginally higher by 0.6 per cent at S$28.21 million. Meanwhile, income available for distribution fell 6.7 per cent to S$15.92 million.
First Reit said: "The real impact of the Covid-19 crisis is expected to be felt in the second quarter, as disruptions only started in March with the Indonesian government imposing large-scale social restrictions. In view of these unprecedented headwinds impacting all sectors, the manager has taken a prudent approach to conserve cash and initiate stringent cost-management strategies to navigate these uncertain times."
The payment date for the DPU is June 18.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Stocks to watch: Singtel, Venture Corp, ARA H-Trust, YHI International, LHN
Optus names National Broadband Network’s Stephen Rue as incoming chief
More than 90% of stablecoin transactions aren’t from real users, study finds
RBA to keep key rate at 12-year high as inflation stirs anew
Buffett praised Apple after trimming it, drops Paramount stake
Westpac net profit falls 16%, announces additional A$1 billion buyback