CapitaLand Mall Trust posts Q3 DPU of 3.1 S cents
CAPITALAND Mall Trust's (CMT) distribution per unit rose 1.3 per cent to 3.1 Singapore cents for its third quarter ended Sept 30, from 3.06 cents a year ago.
The distribution for Q3 2020 included the release of S$36.4 million, or about 78 per cent of the S$46.4 million of taxable income available for distribution retained in H1 2020. In Q3 2019, CMT had released S$1.5 million of its taxable income available for distribution retained in H1 2019.
For the third quarter this year, CMT's gross revenue tumbled 25.3 per cent to S$150.3 million, from S$201.1 million a year earlier.
This was mainly due to lower gross rental income arising from rental waivers of S$29.5 million granted to tenants affected by Covid-19, as well as lower gross turnover and other income, the manager said on Thursday.
Net property income (NPI) fell 27.6 per cent on the year to S$104.4 million for the quarter, from S$144.2 million.
Distributable income was up 1.2 per cent year on year to S$114.3 million, from S$113 million.
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Unitholders can expect to receive the distribution on Nov 19, following books closure on Oct 20.
CMT units closed at S$1.91 on Wednesday, down S$0.01 or 0.5 per cent.
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