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. 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.

Join ST's Telegram channel and get the latest breaking news delivered to you.