OUE C-REIT posts 40.5% drop in 1H DPU despite higher distributable income to conserve cash amid Covid-19 uncertainties

The manager of OUE Commercial REIT (OUE C-REIT) says that its 1H20 DPU has fallen by 40.5% to 1.0 cent from 1.68 cents in 1H19.

However, the REIT’s amount distributable to unitholders saw a 12.1% increase to $54.5 million from $48.6 million a year ago.

The reason for the lower DPU despite the higher amount distributable to unitholders is $13.8 million of distribution comprising tax-exempt income and capital distribution was retained to preserve financial flexibility in view of uncertainties posed by the Covid-19 situation.