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CapitaLand Ascendas REIT’s distributable income dips 1.4% to $654.4m in FY23
With lower income, the REIT declared a lower DPU of $0.15160.
Despite higher net property income and gross revenue, CapitaLand Ascendas REIT (CLAR) still recorded a 1.4% YoY lower amount available for distribution of $654.4m in FY23.
In FY23, CLAR posted an NPI of $1.02b (+5.6% YoY) and a gross revenue of $1.5b (+9.4% YoY).
In a bourse filing, the REIT attributed its lower distributable income to “higher interest expenses" due to the high-interest rate environment.
Given the lower distribution and enlarged unit base, the REIT declared a distribution per unit of $0.15160, a 4.0% YoY decline.
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