SINGAPORE (Feb 5): Manulife US Real Estate Investment Trust (Manulife US REIT) has announced distribution per unit (DPU) of 1.44 US cents for 4QFY2019 ended December, a 5.9% drop from DPU of 1.53 US cents in the corresponding period a year ago.

The decline was mainly attributable to an enlarged unit base as a result of a private placement and a preferential offering to help fund the acquisition of Capitol, a 29-storey Class A office building in Sacramento, California, which was acquired in October last year.

This brings DPU for FY2019 to 5.96 US cents, some 7% higher than DPU of 5.57 US cents a year ago.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook