CDLHT Q4 DPS up marginally at 2.92 cents

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.