Keppel-KBS US Reit Q4 DPU falls below forecast after rights issue
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Singapore
KEPPEL-KBS US Reit (KORE) has declared a fourth-quarter distribution per unit (DPU) of 1.25 US cents, 16.7 per cent lower than the forecasted 1.50 US cents due to dilution from a recent rights issue.
The rights issue partially funded the acquisition of the Westpark portfolio in Seattle in November. Excluding the effects of the acquisition and rights issue, fourth-quarter DPU would have been 1.51 US cents, in line with the Reit manager's forecast.
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