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SPH REIT Reports Higher Distribution Per Unit In Q1

SPH REIT’s net property income (“NPI”) for the first quarter ended 30 November 2019 (“Q1 FY2020”) was S$46.9 million, an increase of S$5.2 million (12.4%) compared to the same quarter last year.

Income available for distribution to unitholders for Q1 FY2020 is S$35.8 million which is 0.2% (S$56k) lower compared to Q1 FY2019. This is mainly due to the issuance of perpetual securities of S$300 million in August 2019, before payment on 6 December 2019 for the acquisition of a 50% stake in Westfield Marion Shopping Centre (“Westfield Marion”). Distribution per unit (“DPU”) for Q1 FY2020 was S$1.38 cents. This is higher than the S$1.34 cents in Q1 FR2019.

Q1 FY2020 distribution will be paid to unitholders on 14 February 2020.

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