The Directors of Keppel Infrastructure Fund Management Pte. Ltd., as Trustee-Manager of Keppel Infrastructure Trust, advise the following results of Keppel Infrastructure Trust for the third quarter and nine months ended 30 September 2019.
Keppel Infrastructure Trust achieves a 40.0% YoY increase in distributable cash flow for 9M 2019
Results Highlights
• Distributable cash flow (DCF) for the third quarter of 2019 (3Q 2019) was $55.7 million1, bringing DCF for the nine months ended 30 September 2019 (9M 2019) to $149.9 million1, a 61.0% and 40.0% year-on-year (YoY) increase over the corresponding periods in 2018 respectively
• Distribution per Unit (DPU) was 0.93 cents for 3Q 2019, bringing 9M 2019 DPU to 2.79 cents, translating to an annualised distribution yield of 7.0%2
• Announced the proposed divestment of Keppel Infrastructure Trust's (KIT) 51% stake in DataCentre One, allowing KIT to realise the remaining lease value upfront, with proceeds expected to be redeployed to strengthen the Trust
1 Excludes Basslink as KIT does not depend on Basslink's cash flows for distribution
2 Based on the market closing price per Unit of $0.530 as at 30 September 2019
3 Comprises mainly Trust expenses and distribution paid/payable to perpetual securities holders, higher during the quarter due to management fee and financing cost
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