CCT maintains Q3 DPU at 2.04 cents

Singapore

CAPITACOMMERCIAL Trust (CCT) clocked a flat distribution per unit of 2.04 cents for the third quarter ended September, while distributable income rose 1.6 per cent year-on-year, to $58.8 million, from $57.9 million a year ago.

The improvement in distributable income was despite the cessation of One George Street's yield protection income, and was largely attributable to lower interest expenses, and distribution of tax-exempt H1 2013 distributable income received from Quill Capita Trust.

Based on CCT's closing price per unit of $1.42 on Oct 17, the distribution yield is 5.7 per cent…