Shares & Derivatives
Keppel Infrastructure Trust – Stable distributions amid active portfolio optimisation
By Beansprout  •  February 4, 2025
Keppel Infrastructure Trust (KIT) reported Distribution Per Unit (DPU) of 3.90 cents in FY24, up 1.0% compared to the previous year excluding the special distribution in FY23. FY24 DPU up 1.0% YoY, excluding special distribution in FY23 Keppel Infrastructure Trust (KIT) reported FY24 Distribution Per Unit (DPU) of 3.90 cents, broadly in line with consensus forecasts of 4.0 cents. FY24 DPU comprises 1H24 DPU of 1.95 cents, stub distribution of 0.70 cents and distribution of 1.25 cents in 2H24. Headline Distributable Income down 35.7% YoY in FY24.  Overall Distributable Income (DI) declined 35.7% YoY to S$203.7 mn in FY24. After management adjustments for one-offs and timing differences, primarily the sum of S$113.2 mn in FY2023 arising from a capital optimisation exercise, DI would have rose 4.3% YoY to S$218.7 mn instead. Similarly, headline DI declined 38.7% YoY in 2H24, although adjusted DI would have been up 14.7% YoY, with contributions from new acquisitions driving DI growth, led by Ventura bus lines in Australia. Source: Company data, Beansprout research...
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