CDLHT's Q3 DPU falls 2.9% to 2.64 cents
CDL Hospitality Trust (CDLHT) has posted a distribution per stapled security of 2.64 cents for the third quarter ended September, down 2.9 per cent from 2.72 cents a year ago. This was on the back of a 2.2 per cent dip in income available for distribution of $25.7 million, after taking into account income retained for working capital.
This translates to an annualised distribution per stapled security of 10.47 cents, which is 3.2 per cent less than the 10.82 cents posted a year ago. Based on the closing market price of $1.68 on Oct 29, this translates to an annualised distribution yield of 6.23 per cent.
The stapled group - which comprises CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust - saw gross revenue dip 0.8 per cent during the quarter to $35.9 million. Net property income fell 1.7 per cent to $33 million.
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