500 Plaza Drive in Secaucus, New Jersey. (Photo: Manulife US REIT)

Manulife US REIT has established a distribution reinvestment plan, in the wake of its 2Q 2019 results.

The office properties-focused REIT reported a distribution per unit (DPU) of 1.53 US cents for the period, an increase of 17.7% from the 1.30 cents reported in 2Q 2018.

When adjusted for the enlarged unit base arising from the preferential offering exercise in 2018, the DPU would have been unchanged from 1.53 cents in 2Q 2018.

Manulife US REIT’s gross revenue for 2Q 2019 increased by 33.2% year-on-year to USD43.3 million.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.