Far East Hospitality Trust Reports 36.7% Decline In Full Year 2020 DPS

February 11, 2021 – Far East Hospitality Trust reported a distribution per stapled security (DPS) of 2.41 Singapore cents for the full year of 2020, 36.7% lower than the 3.81 Singapore cents seen in the same period in 2019.

For the full year ended 31 December 2020, gross revenue was S$83.3 million. Net property income was S$72.2 million and income available for distribution was S$47.9 million. On a per Stapled Security basis, the distribution of 2.41 cents represented a 100% payout of Far East H-Trust’s taxable income.

Mr Gerald Lee, Chief Executive Officer of the REIT Manager said, “Despite facing an unprecedented shock to the hospitality industry, Far East H-Trust managed to deliver a modest distribution for FY 2020. Within our portfolio, the serviced residences, which had a larger base of long-term contracts, performed better than the hotels.

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