Suntec REIT FY 22 Distributable Income Up 3.5% To S$255.5 Million
Jan 23, 2023 – Suntec REIT posted a distribution per unit to unitholders of 8.884 cents for the year ended December 2022, 2.5% higher year-on-year.
The increase in DPU was attributed to a capital distribution of S$23.0 million, with improvement in distributable income from better operating performance being eroded by higher financing costs, according to a statement.
For the period July 1 to December 31, 2022, the Singapore and United Kingdom portfolios remained resilient while contribution from the Australia portfolio was lower year-on-year due to leasing downtime and absence of surrender fee received in the second half of 2021. The second-half 2022 DPU of 4.074 Singapore cents was weighed down by a sharp increase in financing costs, it said.
