KIT's first-quarter DPU steady at 0.93 cent

Singapore

KEPPEL Infrastructure Trust (KIT) on Monday reported a distribution per unit of 0.93 Singapore cent for its first quarter ended March 31, 2017, unchanged from a year ago.

This reflects a distribution yield of 7.3 per cent as at end-March 2017. Distributable cash flows of S$34.2 million were S$5.9 million lower than the corresponding quarter a year ago, mainly due to a time lag in the adjustment of gas tariffs to reflect actual fuel cost at gas producer and retailer City Gas, as well as abortive expenses incurred by the trust over a potential acquisition.