Ascott REIT posts 5% rise in 3Q DPU on one-off gain from divestment

By Stanislaus Jude Chan / The Edge Singapore | October 30, 2019 3:00 PM SGT
SINGAPORE (Oct 30): The manager of Ascott Residence Trust has reported a 5% rise in distribution per unit (DPU) to 1.91 cents for the 3Q19 ended September, from 1.82 cents a year ago.
Unitholders’ distribution for 3Q19 grew 6% to $41.6 million, led by a one-off partial distribution of a $4.0 million gain from the divestment of Ascott Raffles Place Singapore in May 2019.
3Q19 revenue dipped 2% to $132.4 million due to the absence of revenue contribution from Ascott Raffles Place Singapore as a result of the divestment.
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