The manager of First REIT has announced a 1QFY2021 ended March distribution per unit (DPUI) of 0.65 cents, down 65.1% y-o-y from 1.86 cents previously.

In the REIT’s 1QFY2021 business update dated May 4, the manager notes that the lower DPU follows lower distributable income as well as the issuance of 791 million rights units on Feb 24 which are entitled to participate in the 1Q2021 distribution. 

Excluding the new rights units issued, the adjusted DPU would be 1.27 cents for 1Q 2021, a 31.7% decline from the previous year.

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