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Sentral REIT DPU Up 4.1% In 2020

Sentral REIT DPU Up 4.1% In 2020

January 20, 2021 – Sentral REIT announced that it has achieved a realised net income of RM20.61 million (US$5.1 million) for the fourth quarter of 2020, 10.8% higher than the realised net income of RM18.61 million (US$4.6 million) recorded for the fourth quarter of 2019.

This will translate to an FY2020 distribution per unit (DPU) is 7.08 sen, which is 4.1% higher compared to the FY2019 DPU of 6.80 sen.

The FY2020 DPU of 7.08 sen translates to a distribution yield of 8.09% based on the closing price of RM0.875 per unit as at 31 December 2020.

Tan Sri Saw Choo Boon, Chairman of MQM said: “Despite the challenging Klang Valley office market environment, Sentral REIT has recorded stable financial performance. Moving into 2021 and with the reimplementation of the Movement control order on 13 January 2021 due to the recent resurgence of the COVID-19 cases in Klang Valley, we are anticipating the challenging office market and economic outlook to persist. Accordingly, on-going asset management and leasing strategies centered on tenant retention as well as prudent cost management will be intensified and will remain our focus to ensure stable occupancy and sustainable income contribution are achieved in 2021.”

Read more here..