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First Reit reports 14.5% rise in Q4 distribution per unit

Published on Jan 17, 2014 7:57 PM

First Real Estate Investment Trust (First Reit) has recorded a 14.5 per cent increase in distribution per unit (DPU) to 1.97 cents for the fourth quarter.

This takes the total annualised DPU to 7.52 cents, up 14.3 per cent over 2012, excluding the gain on divestment of the Adam Road property.

Based on the unit's closing price of $1.045 today, this works out to a distribution yield of 7.2 per cent.

Total distributable income to unitholders for the three months to Dec 31 rose by 26.2 per cent to $14 million.

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