By Ronnie Harui
Keppel Infrastructure Trust’s units rose in morning trade after its distributable income for the first nine months of the year nearly doubled on the back of new acquisitions and growth across its portfolio.
Units of the Singapore-listed trust were recently 9.1% higher at 0.48 Singapore dollars (US$0.35), on course for their largest daily gain since March 2020, according to FactSet.
The trust said Thursday after market close that distributable income for the first nine months jumped 93.2% from a year earlier to S$266.07 million.
For the first nine months of 2023, Keppel Infrastructure Trust “continued to deliver high availability and strong operational performance across its businesses and assets,” it said in a statement.
“The trust is largely insulated from higher energy prices and inflation with the cost passed through mechanism and availability-based model,” it added.
The trust, which has a portfolio of businesses and assets in the sectors of energy transition, environmental services and distribution & storage, declared a special distribution of 2.33 Singapore cents a unit. That brings its total distribution per unit for the first nine months of 2023 to 5.23 Singapore cents, up 82.5% on year.
Write to Ronnie Harui at [email protected]
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