Distribution/ Tax On Unitholders
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- How is the Net Distributable Amount determined?
- The Net Distributable Amount is derived from net lease income and after-tax interest income less management fees, financing costs and other trust expenses (excluding incentive fees, depreciation and certain amortisation of debt up-front fees but including upfront initial direct costs associated with any vessel acquisitions).
- What is FSL Trust's distribution history?
- Please refer to our distribution history here.
- Are distributions taxable?
- There is no taxation on distributions to Singapore investors - both retail & institutional. There is no Singapore withholding tax on distributions to foreign unitholders. For US tax purposes, FSL Trust is a PFIC (Passive Foreign Investment Company). US unitholders should consult a professional expert on the tax implications of their investment in FSL Trust.
- Can you explain the distribution process?
- Distributions are made on a quarterly basis. The amount to be distributed for each quarter will be announced together with the results for that quarter.
- All distributions are paid within 75 days after the end of each distribution period which are the quarters ending 31 March,
30 June, 30 September and 31 December of each year.
- Distributions are declared in US dollars as the financials of FSL Trust are prepared in this currency. Holders of units held through CDP will be paid in the Singapore dollar equivalent of the US dollar distribution declared unless the unitholder elects to receive it in US dollars. The USD-to-SGD foreign exchange rate is fixed about one week before the distribution.
- Unitholders who elect to receive in US dollars will receive a USD cheque via mail.
- When will ex-distribution dates be announced?
- Typically, the ex-distribution date will be announced together with the date of quarterly results announcement for each quarter. This announcement is usually made shortly after the end of each quarter and posted on SGXNET and FSL Trust's news room.
- How do I find out how much distributions have been declared by FSL Trust?
- Details of actual distributions are declared quarterly in FSL Trust's quarterly Financial Results and Dividend Announcements, usually in January (for Q4 of previous year), April, July, October, respectively.
The following information on distribution will be declared in the said announcement:
- Actual amount of the distribution per unit ("DPU") in US dollars
- The books closure date
- The date of payment of the distribution