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Ascott Residence Trust meets 'pent up' demand, plans higher distribution of 2.33 cents per unit

The Edge Singapore
The Edge Singapore 7/29/2022 07:43 AM GMT+08  • 2 min read
Ascott Residence Trust meets 'pent up' demand, plans higher distribution of 2.33 cents per unit
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Ascott Residence Trust will be paying a distribution per unit of 2.33 cents for 1HFY2022, up 14% y-o-y, with improvements in its operations taking hold with “pent up demand” from both corporate and leisure users.

The distribution will go ex on Aug 5 and be paid on Aug 29.

Revenue per available unit for 1HFY2022 increased by 60% from $60 to $96, and average occupancy improved from 50% to 70%. For 2QFY2022, the corresponding figure was $124, up 91% over 2QFY2021 – marking the highest level since 2QFY2020.

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