FirstREIT – BT

First Reit Q1 DPU up 1.6%

First Real Estate Investment Trust (First Reit), Singapore’s first healthcare real estate investment trust, reported on Thursday further growth in distributable income for the three months ended March 31, 2009.

Distributable income rose 2.5 oer cent to $5.2 million (US$3.5 million) while distribution per unit (DPU) rose 1.6 per cent to 1.88 cents. Payout was 100 per cent of distributable income.

Based on its annualised DPU of 7.62 cents and the closing price of $0.56 on Tuesday, First Reit said it achieved a distribution yield of 13.6 per cent.

‘First Reit remains committed to maintain an annual 100 per cent distribution payout,’ it added.