Sabana Reit's Q2 distribution per unit lower at 1.86 cents

SABANA Reit yesterday posted a distribution per unit (DPU) of 1.86 cents for its second quarter ended June 30, 2014 - down 22.5 per cent from the 2.4 cents it paid out a year ago.

The three months saw income available for distribution fall 16.6 per cent to $13 million. Reasons cited include lower net property income and higher profit expense incurred on higher borrowings.

The Syariah-compliant industrial Reit said that the Q2 DPU was largely unchanged from Q1's 1.88 cents. "This was despite an increase in unit base by approximately 2.7 million as a result of new units issued in Q2 2014 under the distribution re-investment plan established in April this year," it said.