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DPU of Elite Commercial REIT drops 28.9% YoY to £0.0342 in FY23

The REIT recorded a lower DPU despite a higher net property income.

Elite Commercial REIT’s distribution per unit (DPU) fell 28.9% YoY to £0.0342 in FY23 despite recording a higher net property income (NPI).

In FY23, the REIT’s NPI was £35.7m, 15.7% YoY higher.

Meanwhile, rising borrowing costs and asset holding costs pulled down the amount generated for distribution to unitholders by 21.9% YoY to £18.0m.

“Unitholders can expect to receive DPU of £0.0133 in respect of 2H 2023, which translates to an annualised yield of 9.4%. The record date is 27 February 2024, and payment is expected to be made on 28 March 2024,” the REIT said.

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