Kore rises 8.3% after H2 results, early resumption of distributions

The manager plans to start with a ‘conservative payout ratio’, which will be raised to a ‘sustainable level aligned with long-term portfolio performance’

Shares of Keppel Pacific Oak US Reit (Kore) rose in early trade on Tuesday (Feb 3) after the office-focused US Reit posted H2 earnings and announced that it is resuming distributions early.

The counter rose to US$0.26 as at 9.04 am, up by US$0.02 or 8.3 per cent, with some 3.8 million shares changing hands. By 9.24 am, it had eased to US$0.255, still up by 6.3 per cent or US$0.015, with close to five million shares transacted.

On Tuesday morning, Kore announced the early resumption of its distributions and posted a distribution per unit of US$0.0025 for the second half of the financial year ended Dec 31, 2025.

It previously declared a suspension of distributions from H2 FY2023 to H2 FY2025 as part of recapitalisation plans to address capital needs and leverage concerns. The manager noted that it plans to start with a “conservative payout ratio”, with the aim of increasing it to a “sustainable level aligned with long-term portfolio performance”.

This comes although the real estate investment trust’s distributable income fell 3.1 per cent to US$23.1 million for H2, from US$23.8 million in the previous corresponding period.

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