PARKWAY Life Reit yesterday reported distribution per unit (DPU) of 1.91 cents for the third quarter to Sept 30, up 12.1 per cent from 1.71 cents in the equivalent period last year.
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| Mr Yong: ‘we continue to enjoy strong growth quarter after quarter’ |
Income available for distribution was $11.6 million, up from $10.3 million last year.
Annualised DPU was 7.65 cents for a 6.59 per cent yield, based on Parkway’s closing price on Sept 30, up from 5.9 per cent last year; or 6.32 per cent based on yesterday’s closing price of $1.21 a unit. For the three months ended June, the Reit posted a 13.7 per cent increase in income available for distribution to $11.4 million, for a DPU of 1.89 cents.
For the third quarter, gross revenue rose 23.6 per cent year-on-year to $16.5 million, from $13.3 million. Net property income was $15.4 million, up from $12.5 million.
For the first nine months, distributable income was $34.3 million, up 14.1 per cent, for DPU of 5.69 cents, up from 5 cents last year.
Chief executive officer of the Reit’s manager Yong Yean Chau said: ‘Despite the challenging market conditions, we continue to enjoy strong growth quarter after quarter. Continue reading
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