SINGAPORE (May 28): Accordia Golf Trust, the business trust consisting of golf course assets in Japan, has declared a 39% lower distribution of 2.20 cents for the 1H18 compared to the distribution of 3.59 cents in 1H17.
In 4Q18, total distributable income available came in 62% lower at JPY 493 million ($6 million) compared to JPY 1.3 billion in 4Q17.
The trustee-manager says this was due to a decline in cash flows from operating activities caused by cold weather and a decrease in proceeds relating to membership revenue.
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