CDLHT Q4 DPS up marginally at 2.92 cents
Strong contribution from Maldives offset weaker overall performance
CDL Hospitality Trusts (CDLHT) reported a distribution per stapled security (DPS) of 2.92 cents for the fourth quarter, 0.7 per cent higher than the year before, as strong contribution from its Maldives property offset a weaker overall performance.
The DPS works out to an annualised yield of 7.3 per cent, based on CDLHT's closing price of $1.605 yesterday, and comes on the back of a 1.3 per cent year-on-year increase in income available for distribution to $31.6 million.
For the three months ended Dec 31, 2013, revenue was up 2.8 per cent at $39.4 million. This was largely aided by a $5 million contribution from its Angsana Velavaru resort in the Maldives bought early last year, which offset slight declines in revenue from its hotels in Singapore and Australia.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Buffett praised Apple after trimming it, drops Paramount stake
Westpac net profit falls 16%, announces additional A$1 billion buyback
Worst days for China’s stock market may be over
Emerging-market optimism dashed by Fed as currencies, bonds sink
LHN warns H1 2024 net profit could decline by 28.6%
It is time to put idle cash back into the market