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Mapletree Logistics Trust's Q2 DPU stays flat at 1.86 cents
MAPLETREE Logistics Trust (MLT), which owns a suite of industrial properties across Asia, said distributable income to unitholders for its second quarter ended Sept 30, 2016 was S$46.6 million, up one per cent from S$46.2 million a year ago. Distribution per unit (DPU) for the quarter stayed flat at 1.86 Singapore cents.
Gross revenue was up 4.7 per cent to S$91.6 million, while net property income was up 5.3 per cent to S$76.8 million.
But unitholders got the same amount after taking into account a higher amount distributable to perpetual securities holders. MLT issued another S$250 million of perpetual securities in May.
MLT's overall portfolio occupancy rose to 96.4 per cent as at end-September, up from 95.4 per cent a quarter ago. Rental rate increases for the latest quarter were around 2 per cent, contributed by Singapore, Hong Kong and South Korea.
A results briefing will be held on Tuesday morning at 11am. A live audio webcast of the briefing will be available here:
MLT last traded at S$1.055, up half a cent, before results were out. Net asset value at end-September was S$1.