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ASCOTT RESIDENCE TRUST RAISES 1H 2021 DISTRIBUTION PER STAPLED SECURITY BY 95% TO 2 05 CENTS THROUGH ACTIVE PORTFOLIO OPTIMISATION
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Ascott Residence Trust Raises 1h 2021 Distribution Per Stapled Security By 95% To 2 05 Cents Through Active Portfolio Optimisation
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ASCOTT AND ASCOTT RESIDENCE TRUST JOINTLY INVEST AND DEVELOP STUDENT ACCOMMODATION PROPERTY IN SOUTH CAROLINA, USA FOR US$109 9 MILLION
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ASCOTT RESIDENCE TRUST POSTS DISTRIBUTABLE INCOME OF S$61.7 MILLION IN 2H 2020 AND S$94.2 MILLION IN FY 2020
Industry:
(TRAVPR.COM)
SINGAPORE -
January 27th, 2021 - Ascott Residence Trust (ART) posted a distributable income of S$61.7 million in 2H 2020 and S$94.2 million in FY 2020 amidst the COVID-19 pandemic. The distributable income for 2H 2020 is a 32% decline compared to 2H 2019. To mitigate the impact of COVID-19, replace loss income from divested assets and to share past divestment gains with Stapled Securityholders, a one-off partial divestment gain of S$40.0 million will be distributed to Stapled Securityholders. ART also released the S$5.0 million of distributable income which was retained in 1H 2020. Distribution per Stapled Security (DPS) for 2H 2020 is 1.99 cents, a 52% decrease compared to 4.18 cents in 2H 2019.