Frasers Commercial Trust's Q2 DPU rises 3% to 2.05¢

FRASERS Commercial Trust (FCOT) posted a distribution per unit (DPU) of 2.05 cents for its second quarter ended March 31, 2014, a 3 per cent increase from 1.99 cents a year earlier.

Distribution to unitholders rose 5.6 per cent year on year to $13.789 million, despite a dip in net property income.

DPU was boosted by conversion of 0.8 million Series A Convertible Perpetual Preferred Units (CPPU) in Q2 FY2014, leading to savings in CPPU distributions, said Frasers Centrepoint Asset Management (Commercial), FCOT's manager.