CapitaLand Investment back in the black with S$148 million H2 profit; proposes special distribution of CICT units
This translates to an earnings per share of S$0.03
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THE board of real estate group CapitaLand Investment (CLI) proposed on Thursday (Feb 27) to distribute a core dividend of S$0.12 per share, as well as a special dividend-in-specie of 0.031 CapitaLand Integrated Commercial Trust (CICT) unit per share – valued at S$0.06 apiece. This brings the total dividend for financial year 2024 to about S$0.18.
The decision to issue a special dividend-in-specie – which are distributions based on assets other than cash – will help CLI to improve its return on equity by reducing its capital base, explained Paul Tham, the group’s chief financial officer.
The proposed distribution is also in line with its ongoing capital management and asset-light growth strategy, added CLI in a bourse filing.
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