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Frontier Real Estate declares H1 distribution

Frontier Real Estate Investment Corp. declared a first-half distribution per unit of ¥10,022, bringing total distributions for the period to ¥4.97 billion.

The distribution per unit represents a marginal 1.2% decline from the ¥9,903 payout for the six months ended Dec. 31, 2016.

For the second half, the company expects to pay a distribution of ¥10,080 per unit. It also forecasts a 0.7% rise in net income to ¥5.00 billion.

Meanwhile, operating revenue is expected to inch up 1% from the first half to ¥10.11 billion, with operating income projected to climb 0.3% to ¥5.31 billion.

As of Aug. 14, US$1 was equivalent to ¥109.46.