CapitaLand Commercial Trust Q1 DPU down 25% to 1.65¢

Singapore

CAPITALAND Commercial Trust (CCT) posted a 25 per cent fall in distribution per unit (DPU) to 1.65 Singapore cents for the first quarter ended March 31, due to its retention of taxable distributable income and its decision to withhold distribution of tax-exempt income "as a matter of prudence" amid the Covid-19 outbreak.

Its gross revenue for the quarter inched up 3.8 per cent to S$103.6 million, driven by Main Airport Center, a freehold multi-tenanted office building near the Frankfurt International Airport, which was acquired in September 2019.