Keppel DC REIT 1H24 distribution per unit decreased 9.9% year-on-year to 4.549 cents, compared to 5.051 cents in 1H23.
Summary of Keppel DC REIT's 1H24 results
Keppel DC REIT reported its results and dividends for the first half of 2024 (1H24).
- Keppel DC REIT 1H24 distribution per unit (DPU) fell 9.9% year-on-year to 4.549 cents, compared to 5.051 cents in 1H23.
- However, its DPU was higher compared to 4.332 cents in 2H23.
- This translates to an annualized yield of 4.8%.
Source: Keppel DC REIT
Revenue and net property income increased by 11.9% and 4.2% compared to 1H2023, as Keppel DC REIT's portfolio occupancy rate remained high at 97.5%.
Keppel DC REIT saw healthy positive reversions and escalations across its portfolio, including strong positive reversion of more than 40% for a major renewal contract of a colocation data centre in Singapore.
In addition, Keppel DC REIT achieved higher variable rent arising from the settlement sum received relating to the dispute with DXC.
This was offset by loss allowance for the...
