Manulife US Reit's Q4 DPU 3.6% above forecast (Amended)

Singapore

MAINBOARD-LISTED Manulife US Reit will distribute 1.54 US cents per unit for the fourth quarter, and expects its portfolio to benefit from US President Donald Trump's pro-business policies.

The distribution per unit (DPU) of 1.54 US cents was 3.6 per cent above its own forecast of 1.49 US cents, the Reit announced on Monday. Net property income for the three months ended Dec 31, 2016 was US$12.4 million, above the US$12.3 million forecast by 0.2 per cent due to higher rental and other income, and lower property expense, partially offset by lower recovery revenues.