Frasers Hospitality Trust declares 4.8% lower 4Q DPS of 1.2154 cents

SINGAPORE (Oct 26): The manager of Frasers Hospitality Trust (FHT) has declared a 4Q18  DPS of 1.2154 cents, 4.8% below last year.

Gross revenue and net property income were $38.7 million and $29.4 million respectively, down 6.9% and 6.7% y-o-y. The declines were due to overall weaker portfolio performance except for the Singapore and Germany portfolios.

However, distributable income declined a smaller 3.4% y-o-y to $23 million due to a writeback of tax provision.

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