SINGAPORE (July 16): The manager of Keppel-KBS US REIT (KORE) has declared a 2Q19 DPU of 1.50 US cents. This was 5.1% lower than the forecast figure of 1.58 US cents.
This was largely due to the rights issue in November 2018, which resulted in the enlarged number of units of 825 million units as at 30 June 2019, compared to 630 million units one year ago.
Gross revenue for the quarter was 21.5% higher than the forecasted figure at US$29.3 million ($39.7 million), mainly from contributions by The Westpark Portfolio and Maitland Promenade I, following KORE’s acquisitions on 30 November 2018 and 16 January 2019 respectively.
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