Parkway Life REIT to pay unitholders 1.84 cents per share for Q4

Parkway Life REIT (PREIT) will pay 1.84 cents per unit for its fiscal fourth quarter.

This is nearly 18 per cent higher than its forecast.

For the full year, unitholders can expect a payout of 6.83 cents per unit – about 9 per cent higher than forecast.

All in for the full year, PREIT had S$41.2 million to distribute to unitholders, exceeding its forecast by 9.4 per cent.

PREIT said its total net property income in financial year 2008 was 16.3 per cent over forecast at S$50.4 million.

The trust also posted gross revenues that were 17.4 per cent above forecast at S$53.9 million.

Despite the economic downturn, PREIT said it remains optimistic about its mid- to long-term prospects, with continued demand for quality services in the healthcare sector.

Going forward, it will look at diversifying its financial source, tenant mix and identify a pipeline of yield-accretive projects.

Source : Channel NewsAsia – 29 Jan 2009

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