Manulife posts DPU of 2.7 US cents
The amount is 11.5% lower than the amount recorded last year.
Manulife US Real Estate Investment Trust (MUST) reported that a distribution per unit (DPU) of 2.70 US cents will be implemented for the first half of 2021.
The recorded amount is 11.5% lower than the previous year’s DPU.
MUST attributed this decline to the lower rental income from their assets, which stem from more vacancies, less use of the carpark, and rent abatements provided to tenants.
Gross revenue also decreased at 7.9%, as well as net property income at 9.8% year-on-year.
All in all, this translates to a distributable income of $58.38m (US$43m), a 10.4% dip from the previous year.