Keppel Reit's Q1 DPU dips 2.1%

Singapore

KEPPEL Reit's first quarter distribution per unit (DPU) fell 2.1 per cent to 1.39 Singapore cents from 1.42 cents in the corresponding quarter a year ago.

Property income edged up 0.7 per cent year-on-year to S$40 million, while net property income inched up 0.3 per cent to S$31.3 million. Distribution to unitholders was down 1.9 per cent at S$47.3 million on the back of the impact of occupancy changes, the weaker Aussie dollar and lower income contribution from Ocean Financial Centre following the divestment of a 20 per cent stake in mid December 2018.