Investors who have not put their money in the markets probably are expecting bad financial results for months to come.
SPH fired the first shock when it announced the dividends will be cut by 77% compared to the previous quarter despite an increase in distributable income by 12%.
7 REITs have since reported their 1 Jan till 31 Mar 2020 results which covered the COVID-19 period. Here are the summary and commentary of the results.
2 Commercial REITs cut DPU between 49% and 67%Commercial REITs have cut DPU to conserve cash while Industrial and Logistics REITs have maintained their dividends. This means that the malls and offices are hit more than the industrial properties during COVID-19.
I did a quick estimate previously and said that Retail REITs may cut DPU by 48%. Seems like the situation has truly unfolded.
Please don’t jump at the 100% dividend drop for Starhill
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