CCT's Q2 DPU slips 1.6% on enlarged unit base

Singapore

CAPITALAND Commercial Trust (CCT) said that its distribution per unit (DPU) declined 1.6 per cent to 2.16 Singapore cents in the second fiscal quarter as an enlarged unit base outweighed higher income generated from Singapore financial-district properties.

The decline includes adjustments to year-ago numbers to account for a rights issue that was completed in October 2017, in which the office building trust had issued 513.5 million new units on the basis of 166 rights units for every 1,000 units held. Without the restatement for the rights issue, the decline in distribution per unit would have been 4 per cent.