Mapletree Industrial Trust's Q4 DPU up 5.6% after higher rentals, occupancies

MAPLETREE Industrial Trust on Tuesday reported a distribution per unit (DPU) of 2.65 Singapore cents for its fourth quarter ended March 31, 2015.

This was 5.6 per cent higher than the 2.51 Singapore cents it paid out a year ago.

Gross revenue rose 5.6 per cent to S$79.4 million, due mainly to higher rental rates and occupancies achieved in its high-tech buildings, business parks and light industrial buildings, as well as revenue contribution from the acquisition of 2A Changi North Street 2 and the completion of the build-to-suit project for Equinix Singapore at 26A Ayer Rajah Crescent.

Net property income rose 8.4 per cent to S$57.8 million due to lower utilities expenses arising from its cost-saving initiative to purchase electricity in bulk coupled with lower electricity tariffs.

Unitholders can expect to receive their quarterly DPU on June 4, 2015. The closure of the Reit's transfer books and register of unitholders is at 5pm on April 29, 2015.

The Reit added one cent to finish at S$1.61 on the stock market on Tuesday.