THE manager of Elite UK Reit on Monday (Feb 10) posted a distribution per unit (DPU) of 1.47 pence for the second half (H2) ended Dec 31, representing a payout ratio of 95 per cent.
This was 5.8 per cent higher than the 1.33 pence paid in the year-ago period, which was based on a payout ratio of 90 per cent. DPU for the year-ago period was adjusted based on FY2024’s weighted average units in issue of 593.4 million.
This brings full-year DPU to 2.87 pence, an increase of 5 per cent on the year. This was attributed to interest and tax savings. The distribution for H2 will be paid out on Mar 28, after the record date on Feb 18.
Revenue for the period fell 0.9 per cent to £18.4 million from £18.5 million. Excluding the effect of straight-line rent adjustments, revenue declined 1.7 per cent on the year to £18.9 million.
Net property income (NPI) fell 15.2 per cent to £18.1 million from £21.4 million. Excluding the effect of straight-line rent adjustments, NPI declined 15.5 per cent to £18.6 million.
For the full year, revenue fell 3.1 per cent to £36.5 million from £37.6 million, while NPI declined 12.1 per cent to £36.3 million from £41.4 million. Excluding the effect of straight-line rent adjustments, revenue and NPI fell 1.2 per cent and 10.3 per cent, respectively.
Units of Elite UK Reit closed flat at £0.30 on Friday.
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