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EC World REIT declares Q2 distribution

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EC World REIT declares Q2 distribution

EC World REIT declared a second-quarter distribution per unit, or DPU, of 1.54 Singapore cents, up 4.1% from its forecast of 1.48 cents.

The sum translates into an annualized DPU yield of 7.7%. For the first half of 2017, the company logged a DPU of 3.08 cents, a 4.8% increase from the 2.94 cents payout it had forecast for the period.

At S$12.0 million, EC World's distributable income for the quarter ended June 30 was up 3.3% from the projected S$11.6 million. Distributable income for the first half was recorded at S$24.0 million, up 3.4% from the company's S$23.2 million estimate.

The second-quarter DPU will be payable Sept. 28 to unitholders on record as of Aug. 15.

As of Aug. 3, US$1 was equivalent to S$1.36.