ASCOTT Residence Trust's (ART) distribution per stapled security (DPS) fell by 69 per cent to 1.05 Singapore cents for its half year ended June 30, 2020 from 3.43 Singapore cents a year ago. Read more at The Business Times.
Meanwhile, distributable income declined 56 per cent year on year to S$32.6 million, from S$74.6 million. The distribution will be paid out on Aug 28, after books closure on Aug 6.
In view of the uncertainty surrounding the Covid-19 situation, ART has retained about 15 per cent, or S$5 million of its income available for distribution to stapled securityholders, as rent negotiations are still ongoing and ART may grant further rental deferment and/or waivers to support some tenants through this challenging period, the managers said.
The H1 2020 distribution included a S$5 million top-up to mitigate the impact of Covid-19 on distributions and to share past divestment gains with stapled securityholders, they added. According to the managers, the eventual distribution of the 15 per cent retained amount will depend on the final amount of income available for distribution based on the financial results for the full year ending Dec 31, 2020.
ART is the stapled group formed after the combination of real estate investment trusts Ascott Residence Trust and A-HTrust.BT is now on Telegram!
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