Keppel DC Reit posts 4.2 per cent increase in Q2 distribution per unit

The DPU, which was computed based on this distributable income, had excluded the capital expenditure set aside for Keppel DC Singapore 3.
The DPU, which was computed based on this distributable income, had excluded the capital expenditure set aside for Keppel DC Singapore 3.PHOTO: KEPPEL DC REIT MANAGEMENT

SINGAPORE - Keppel DC Reit has posted a 4.2 per cent increase in distribution per unit (DPU) to 1.74 cents for the second quarter.

Distributable income to unitholders grew 36.5 per cent to $20.1 million for the three months to June 30. The DPU, which was computed based on this distributable income, had excluded the capital expenditure set aside for Keppel DC Singapore 3, said the manager of Keppel DC Reit in its earnings report on Monday.

The higher DPU came on the back of a 41.9 per cent jump in net property income to $31.4 million, while gross revenue rose 38.8 per cent to $34.5 million.

Earnings per unit came in at 1.64 cents for the quarter, lower than 2.08 cents in the same period a year earlier. Net asset value per unit was 96.8 cents, up slightly on 95.4 cents previously.

Keppel DC Reit units closed flat at $1.32 on Monday, before the results were announced.