SINGAPORE (Jan 17): Bowsprit, the manager of First Real Estate Investment Trust (First REIT), reported record annualised DPU of 8.57 cents for FY17, up 1.2% compared to FY16.
The trust’s distributable income for the year edged up 2.3% to $66.7 million on the back of gross revenue and net property income (NPI) growing 3.7% and 3.4% to $111.0 million and $109.5 million respectively.
For 4Q17, DPU rose 0.9% to 2.15 cents compared to 2.13 cents in 4Q16, with distributable income to unitholders rising 1.6% to $16.8 million.
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