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Ascott REIT reports 16% rise in 1Q18 distribution to $29.2 mil but DPU falls due to one-offs

PC Lee
PC Lee4/18/2018 07:43 AM GMT+08  • 2 min read
Ascott REIT reports 16% rise in 1Q18 distribution to $29.2 mil but DPU falls due to one-offs
SINGAPORE (Apr 18): The manager of Ascott Residence Trust (Ascott REIT) reported a 16% rise in 1Q18 unitholders’ distribution to $29.2 million from 1Q17.
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SINGAPORE (Apr 18): The manager of Ascott Residence Trust (Ascott REIT) reported a 16% rise in 1Q18 unitholders’ distribution to $29.2 million from 1Q17.

However, 1Q18 DPU fell 11% to 1.35 cents from 1.51 cents in 1Q17 due to the effects of the April 2017 rights issue offset by one-off forex and divestment gains from the China properties.

Ascott Residence Trust Management (ARTML) said the rise in unitholders’ distribution was due to contributions from acquisitions in 2017 and a realised exchange gain of $1.6 million arising from the proceeds received from the divestment of two serviced residences in Shanghai and Xi’an of China, as well as the repayment of foreign currency bank loans with the divestment proceeds.

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