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Keppel Infrastructure Trust’s DPU increases to 1.93 cents in H1

It was a gradual increase of 1% increase YoY.

The growth in KIT’s DPU was backed by distributable income, which grew by 51.8% year-on-year (YoY) to $132.9m in H1 2023.

In its bourse filing, KIT attributed the improved earnings to contributions from City Energy and the new acquisitions completed in FY 2022, which contributed $68.6m or 38.5% of Asset Distributable Income for H1 2023. 

The DPU translates to a distribution yield of 7.5%, based on KIT’s closing price of $0.510 as at 30 June 2023. 

KIT’s wind farm assets in Europe continue to operate with high availability. KIT’s investment in Aramco Gas Pipelines Company also generated stable distributions, following the continued gas demand which were driven by the Kingdom’s robust economic and population growth.

In Singapore, the Keppel Merlimau Cogen plant hit 100% contractual availability.
 

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