Parkway Life Reit Q4 DPU up 16.1% to 3.37 Singapore cents

PARKWAY Life Reit on Tuesday said distribution per unit (DPU) for the fourth quarter rose 16.1 per cent to 3.37 Singapore cents, from 2.9 cents the same period a year ago.

This was on the back of contribution from higher yielding properties acquired from the asset recycling initiative completed in March 2015 and higher rent from the Singapore properties, offset by the depreciation of the Japanese yen, it said. Net property income rose 4.8 per cent from the year-ago quarter to S$24.6 million.