Mapletree North Asia Commercial Trust prices scrip dividend at S$0.8752 per unit

MAPLETREE North Asia Commercial Trust will issue its scrip dividend at a price of S$0.8752 per unit, the manager said on Monday night.

The price tag represents a roughly 1.9 per cent discount on the volume-weighted average traded unit price for all trades in the 10 market days up until the books closed on Monday, the manager added.

The trust had previously announced a distribution of 0.496 Singapore cent per unit for the period from Feb 28 to March 31, to be paid out on June 24.

As part of the trust's distribution reinvestment plan, unit holders can opt to receive fully paid units instead of cash, under a general unit issue mandate approved by investors in July 2019.

The notice of election, which lets each unit holder indicate whether they want to take part in the plan, will be sent out around May 18 and must be returned by June 4.

Units shed S$0.01, or 1.13 per cent, to S$0.875 on an ex-dividend basis on Monday.