CAPITALAND Mall Trust (CMT) announced on Friday a fourth-quarter distribution per unit of 2.88 Singapore cents for the three months ended Dec 31, 2016, no change from a year ago.
This translated into an annualised yield of 5.82 per cent based on Thursday's closing.
Distributable income for Q4 went up 0.2 per cent to S$102.07 million from the preceding year.
Gross revenue slid 6.1 per cent to S$169.35 million year-on-year, while net property income also slid 7.6 per cent to S$116.19 million from a year ago.
For FY 2016, CMT's DPU was 11.13 Singapore cents, down 1.1 per cent from 11.25 Singapore cents in 2015.
For FY 2016, CMT recorded S$689.7 million and S$479.7 million in gross revenue and net property income respectively, a growth of 3.1 per cent and 2.9 per cent compared with the same period last year.
The increase was mainly due to the acquisition of Bedok Mall on Oct 1, 2015, and higher rental achieved for IMM Building, Tampines Mall and Bukit Panjang Plaza, after asset enhancement works. This was offset by lower gross revenue from Funan, as the mall ceased operations for redevelopment, and divestment of Rivervale Mall on Dec 15, 2015.
Wilson Tan, CEO of manager CapitaLand Mall Trust Management Limited, said: "Looking ahead, we will continue to focus on the interior two rejuvenation works at Raffles City Singapore and the development of a new live-work-play paradigm in Funan."