Keppel Reit posts 13.7% drop in Q1 DPU

Singapore

OFFICE landlord Keppel Reit posted a 13.7 per cent drop in distribution per unit (DPU) to 1.45 Singapore cents for the first quarter ended March 31, down from 1.68 cents a year ago.

Distribution to unitholders was 11.6 per cent lower at S$48.1 million amid an absence of divestment gains and income from the divested 77 King Street in Sydney, as well as lower income contribution from Bugis Junction Towers.