SINGAPORE (May 9): The manager of OUE Commercial REIT (OUE C-REIT) has declared a 1Q19 distribution per unit (DPU) of 0.9 cent, rising 47.5% from its 1Q18 restated DPU of 0.61 cent after booking a full quarter’s contribution from OUE Downtown Office, which was acquired in Nov 2018.
The latest quarter’s DPU translates into a distribution yield of 6.9% based on the REIT’s closing price of 52 cents as at 29 March, the last trading day of 1Q.
Revenue and NPI grew 25.5% and 23.5% to $55.3 million and $43.6 million, respectively, upon registering a full quarter’s contribution from OUE Downtown Office. Revenue and NPI growth for the quarter were further bolstered by one-off income from OUE Bayfront and One Raffles Place.
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