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OUE Hospitality Trust declares higher Q2 distribution

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OUE Hospitality Trust declares higher Q2 distribution

OUE Hospitality Trust's distribution per stapled security for the second quarter rose 31.5% year over year to 1.21 Singaporean cents.

The company's distributable income for the period totaled S$21.8 million, up 31.8% from the second quarter of 2016. Higher contributions from the hospitality and retail segments helped drive the company's performance, according to a release.

The distribution will be paid Sept. 4 to security holders on record as of Aug. 10.

As of July 31, US$1 was equivalent to S$1.36.