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CAPITARETAIL China Trust Management, the manager of CapitaRetail China Trust (CRCT), on Thursday posted a distribution per unit (DPU) of 2.48 Singapore cents for the fourth quarter dated Oct 1 to Dec 31, 2014, a 12.7 per cent rise from 2.20 Singapore cents a year ago.
Distributable income rose 15.6 per cent from S$17.7 million to S$20.5 million for the quarter, while net property income (NPI) grew 30.1 per cent to S$33.5 million, due mainly to a stronger yuan against the Singapore dollar, said the company.
Gross revenue increased by S$11.4 million, or 27.7 per cent, to S$52.7 million compared to a year ago, largely attributed to the new contribution from CapitaMall Grand Canyon which accounted for 19.2 per cent of the growth in total gross revenue, as well as rental growth from the other multi-tenanted malls.
Based on an annualised DPU of 9.84 cents and CRCT's closing price of S$1.725 per unit on Wednesday, the annualised distribution yield for Q4 2014 was 5.7 per cent. Unitholders can expect to receive their DPU for Q4 2014 along with their DPU of 2.35 Singapore cents for Q3 2014, totalling 4.83 Singapore cents, on March 26, said the company.