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Manulife US Reit to retain distributable income for the first time; H2 DPU drops 10.3% pre-retention

Jude Chan &

Bernadette Toh

Published Thu, Feb 9, 2023 · 09:30 AM
    • Manulife US Reit says that despite challenges in the Reit’s submarkets, portfolio occupancy remained stable at 88 per cent as at end-Dec, which was above the US Class A average of 83.3 per cent.
    • Manulife US Reit says that despite challenges in the Reit’s submarkets, portfolio occupancy remained stable at 88 per cent as at end-Dec, which was above the US Class A average of 83.3 per cent. PHOTO: MANULIFE US REIT

    THE manager of Manulife US Real Estate Investment Trust (Manulife US Reit) announced on Thursday (Feb 9) that it is retaining US$3.8 million, or close to 9 per cent, of distributable income for the second half ended Dec 31, 2022, for “general corporate and working capital purposes”.

    This is the first time that Manulife US Reit is not paying out 100 per cent of its distributable income since its listing in May 2016.

    The real estate investment trust (Reit) manager said in a statement that this was part of its efforts to “improve its financial flexibility”.

    Financial resultsmanulife us reitReitsSpotlightS-Reits

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