Parkway Life Reit DPU in Q4 up 10.6% on divestment gain

Sawayaka Hirakatakan, located at Hirakata City, Osaka Prefecture, one of the seven nursing homes Parkway Life Reit divested.
Sawayaka Hirakatakan, located at Hirakata City, Osaka Prefecture, one of the seven nursing homes Parkway Life Reit divested.PHOTO: PARKWAY LIFE REIT

SINGAPORE - Parkway Life Real Estate Investment Trust (Parkway Life Reit) on Friday (Jan 26) posted a 10.6 per cent increase in distribution per unit (DPU) for the fourth quarter, lifted by a one-off divestment gain.

DPU for the three months ended Dec 31, 2017, stood at 3.38 Singapore cents, up from 3.06 Singapore cents a year ago.

This was boosted by a divestment gain from the sale of four Japan properties as announced on Dec 22, 2016. Divestment gains (after tax) of S$5.39 million - translating to 0.89 Singapore cents - has been fully distributed to unitholders over four quarters in 2017.

Total distributable income to unitholders from recurring operations alone rose 3.3 per cent to S$19.1 million.