Cambridge Industrial Trust's Q3 DPU dips

Singapore

THE distribution per unit (DPU) for Cambridge Industrial Trust (CIT) in the third quarter ended Sept 30 dipped 0.1 per cent from 1.251 Singapore cents to 1.25 Singapore cents, even as its distributable income rose 2.5 per cent to S$15.8 million.

The drop in DPU was due to two reasons. One was the increasing costs related to the conversion of its single- tenanted properties to multi-tenanted ones. The second reason was a slight dilution effect, owing to an increase in units in issue due to unitholders' subscription to its "distribution reinvestment plan", which issued units as part payment of distributions to unitholders.