Hektar REIT declares income distribution of RM4.2 million for Q4

KUALA LUMPUR: Hektar Asset Management Sdn Bhd, which manages Hektar Real Estate Investment Trust (Hektar REIT) has announced an income distribution of RM4.2 million for the fourth quarter (Q4) ended December 31, 2020.

The income distribution is equivalent to 0.90 sen per unit.

Hektar REIT has done its utmost to create value for the unitholders despite 2020 being a challenging year.

The company had previously deferred payment of dividend to its unitholders for the financial year ended December 31, 2020 as it was prohibited from paying out any dividends until full settlement of the deferred interest/profit payments on all financing facilities to its financiers.

The company said the Covid-19 pandemic has impacted the retail industry significantly and the REIT segment was also not spared.

"However, we remain committed to maintaining a distribution policy of at least 90 per cent of our distributable income and steering our portfolio into recovery this year.

"We will also focus on ensuring the safety of shoppers by following stringent Covid-19 standard operating procedures at our shopping malls as well as ensuring our malls remain relevant through various tenancy remixing and other optimum asset enhancement initiatives," it said.

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