Potential Bumper Distribution from First REIT from Sale of Adam Road Hospital?
First REIT ($0.735) will be announcing first quarter 2011 results tomorrow (Wed, 20 April). The sale of Adam Road hospital was completed on 25 Mar 2011 with a net cash gain of approximately S$8.3 million. In the announcement dated 23 Feb 2011, it was stated that if the full estimated gain from the sale had been distributed for the financial period 1 January 2010 to 31 December 2010, the DPU would have worked out to be 9.06 cts. This translates to a full-year distribution yield of approximately 12.3% on last traded price. Of course, it is entirely up to the REIT manager's discretion on how much of the gain (if any at all) to distribute. However, being the ever optimists that we are, KI is "secretly" hoping for a bumper distribution this time round.
First REIT ($0.735) will be announcing first quarter 2011 results tomorrow (Wed, 20 April). The sale of Adam Road hospital was completed on 25 Mar 2011 with a net cash gain of approximately S$8.3 million. In the announcement dated 23 Feb 2011, it was stated that if the full estimated gain from the sale had been distributed for the financial period 1 January 2010 to 31 December 2010, the DPU would have worked out to be 9.06 cts. This translates to a full-year distribution yield of approximately 12.3% on last traded price. Of course, it is entirely up to the REIT manager's discretion on how much of the gain (if any at all) to distribute. However, being the ever optimists that we are, KI is "secretly" hoping for a bumper distribution this time round.
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