Manulife US Reit's Q3 payout matches expected yield from newcomer Keppel-KBS

MANULIFE US Real Estate Investment Trust (Reit) will pay a 1.6 US cent distribution per unit for the third quarter, giving it a yield that would match the soon-to-be-listed Keppel-KBS US Reit.

In its quarterly results announced on Friday, Manulife declared a payout for the three months ended September that beat its projection of 1.46 US cents by 9.6 per cent. That outperformance came on the back of contributions from its maiden acquisition of 500 Plaza Drive in New Jersey.

Year-to-date distribution for the January-to-September period will stand at 4.83 US cents, 8.5 per cent above projections, the manager of the US-focused office Reit said. The counter last traded at 90.5 US cents on Friday.