Keppel DC REIT's distributable income drops 6.5% YoY to $23.9m in 3Q23
Given the decline, the REIT proposed a 3.6% YoY lower DPU.
Keppel DC REIT reported a 6.5% YoY lower distributable income of $43.9m in 3Q23.
In a bourse filing, the REIT attributed its lower distributable income to "higher finance costs and less favourable forex hedges partially offset by higher finance income and tax savings."
Data from the REIT's latest financial performance showed that its finance costs rose by 56.9% in 3Q23.
The significantly lower distribuitable income caused the REIT's distribution per unit (DPU) to slide by 3.6% YoY to $0.02942 from $0.02585 in 3Q22.