SINGAPORE (July 27): The managers of Frasers Hospitality Trust (FHT) have declared a distribution per stapled security (DPS) of 1.2374 cent for the third quarter ended June, down 18.2% from its DPS of 1.5126 in the same quarter a year ago.
This was due to an increase in the number of stapled securities to 1.8551 billion following the trust’s rights issue in Oct 2016, where about 441.5 million rights stapled securities were issued at 60.3 cents per stapled security.
Gross revenue for the quarter grew 22.6% to $38.9 million compared to a year ago, boosted mainly by the addition of Novotel Melbourne on Collins as well as better performance of the stapled group’s Australia, Japan and Malaysia portfolios.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
