Ascott Residence Trust says FY2020 DPU expected to reduce by 60-70% from 7.61 cents in 2019

Ascott Residence Trust (ART) has guided, on Jan 15, that its distribution per stapled security (DPU) is expected to reduce by 60-70% from the 7.61 cents recorded for FY2019 ended December.

ART’s income available for distribution, similarly, is expected to decline by 40-50% from the $165.5 million in FY2019.

The lower figures are mainly due to the negative impact brought about by the Covid-19 pandemic, as the travel restrictions “significantly impacted” the operating performance of ART’s properties.