SPH Reit reports fourth-quarter distribution of 1.39 cents a unit

SPH REIT Management Pte Ltd Chief Financial Officer and Head of Investor Relations Ms Soon Suet Har (left) and SPH REIT Management Pte Ltd CEO Susan Leng speak at the SPH REIT Full Year Results Announcement Media Conference on Oct 13, 2014. -- ST PHO
SPH REIT Management Pte Ltd Chief Financial Officer and Head of Investor Relations Ms Soon Suet Har (left) and SPH REIT Management Pte Ltd CEO Susan Leng speak at the SPH REIT Full Year Results Announcement Media Conference on Oct 13, 2014. -- ST PHOTO: MARK CHEONG
SPH Reit Management has reported an income distributable to unitholders of $34.9 million for the fourth quarter. -- PHOTO: ST FILE
SPH Reit Management has reported an income distributable to unitholders of $34.9 million for the fourth quarter. -- PHOTO: ST FILE

SINGAPORE - SPH Reit Management has reported an income distributable to unitholders of $34.9 million for the fourth quarter.

This translates to a distribution per unit (DPU) of 1.39 cents for the three months ended Aug 31, which is 6.1 per cent higher than had been forecast when the Reit was listed.

The distribution will be paid to unitholders on Nov 14.

This is SPH Reit's first full financial year.

The aggregate DPU of 5.99 cents for the period from July 24 last year to Aug 31 this year - the full financial year plus the 39 days preceding it - was higher than forecast by 3.8 per cent.

The distribution represents a yield of 6 per cent based on the Reit's initial public offer price of 90 cents and 5.1 per cent based on its closing price of $1.065 on Aug 29.

Both Paragon and The Clementi Mall were fully leased, with gross revenue in line with forecast.