EC World REIT has reported lower distribution to unitholders as it held back 10% of the income amid the wider economic uncertainty.
For 4QFY2020 ended Dec 2020, ECW will be paying distributions of 1.427 cents per unit, down 5.5% from 1.51 cents paid this time last year.
Gross revenue for the same period was up 14.2% y-o-y to $29.5 million; net property income was up 11.1% y-o-y to $27.2 million. The REIT manager retained $1.28 million worth of income.
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