Mapletree Commercial Trust's Q4 DPU rises 2.4%

MAPLETREE Commercial Trust on Wednesday posted a 2.4 per cent increase in distribution per unit (DPU) to two cents for its fourth quarter ended March 31, 2015.

It had paid out 1.953 Singapore cents per unit a year ago.

Gross revenue rose 3.5 per cent to S$71 million on positive contributions from all its properties in the portfolio.

"The higher gross revenue was contributed largely by VivoCity, S$1.9 million higher than Q4 FY13/14, due to higher rental income achieved for new and replacement leases, coupled with the positive effects of step-up rents in the existing leases," it said.

Net property income rose 4.6 per cent to S$53.2 million on lower property operating expenses.

Unitholders can expect to receive the distribution on June 4, 2015. The closure of the Reit's transfer books and register of unitholders is on April 30, 2015.

The Reit's counter added two cents to finish at S$1.635 on Wednesday.