CMT posts Q1 DPU of 2.73 Singapore cents, up 1.9%

CAPITALAND Mall Trust (CMT) posted a distributable income of S$96.7 million for the first quarter ended March, up 4.2 per cent from S$92.9 million a year ago. This translates into a distribution per unit of 2.73 Singapore cents, 1.9 per cent higher than 2.68 Singapore cents for Q1 2015.

Based on an annualised DPU of 10.98 Singapore cents and CMT's closing price of S$2.170 per unit on April 15 2016, the annualised distribution yield for Q1 2016 was 5.06 per cent. The books closure date is April 25 and unitholders can expect to receive their DPU for Q1 2016 on May 27.

Wilson Tan, CEO of CapitaLand Mall Trust Management Limited, said: "Despite the challenging macro environment, CMT registered year-on-year growth of 4.9 per cent in shopper traffic and 4.6 per cent in tenants' sales in the first quarter of the year. Portfolio occupancy as at March 31 remained high at 97.7 per cent."