OUE Hospitality Trust's Q4 DPS falls to 1.36 cents

OUE Hospitality Trust (OUE H-Trust) on Wednesday reported a 0.34 Singapore cent fall in distribution per stapled security (DPS) to 1.36 Singapore cents for the fourth quarter ended Dec 31, 2016, on the back of an increase in stapled securities.

DPS for full year was at 4.61 Singapore cents, some 1.46 Singapore cents lower than the restated DPS for FY2015.

Results for its fourth quarter and the full year were announced after market closed.

"The lower DPS in Q4 2016 was primarily due to enlarged number of stapled securities arising from the rights issue exercise on the basis of 33 rights stapled securities for every 100 existing stapled securities in April 2016," it said.

Buoyed by better hospitality performance but dampened by a drag from retail, gross revenue for OUE H-Trust in Q4 rose 0.7 per cent year on year to S$33.2 million. However, full-year gross revenue fell by 1.7 per cent or S$2.1 million to S$122.5 million.

Net property income (NPI) for Q4 was 2.5 per cent higher at S$29.56 million, while the full-year NPI was 1.6 per cent lower at S$107.4 million.

OUE H-Trust is a stapled group comprising OUE Hospitality Real Estate Investment Trust and OUE Hospitality Business Trust.

OUE H-Trust's counter was down 0.5 cents to close on Wednesday at S$0.685.