Keppel Reit fourth quarter distribution per unit (DPU) drops to 1.51 Singapore cents

KEPPEL Reit has posted distribution per unit (DPU) of 1.51 Singapore cents for the fourth quarter ended Dec 31, 2014, down from 1.97 cents in the same year-ago period.

Net property income eased 8.3 per cent to S$34.25 million - due mainly to the absence of contribution from Prudential Tower.

The trust completed the divestment of its 92.8 per cent interest in Prudential Tower in September 2014. It also completed the acquisition of a one-third interest in Marina Bay Financial Centre Tower 3 on Dec 16, 2014.

Keppel Reit's net asset value per unit stood at S$1.41 as at Dec 31, 2014, one cent higher than a year earlier.

On the stock market, Keppel Reit ended two cents higher at S$1.23.