Viva Industrial Trust's Q1 DPS up 8.6% on higher rents, new contributions

VIVA Industrial Trust on Wednesday posted a distribution per stapled security (DPS) of 1.87 Singapore cents for its first quarter ended March 31, 2015.

This was 8.6 per cent higher than the 1.722 Singapore cents it paid out a year ago.

Gross revenue rose 20.8 per cent to S$18.1 million, due to higher rental contribution from new tenancies at its business parks, and additional revenue contribution from Jackson Square and Jackson Design Hub which were acquired in November 2014.

Net property income rose 25.8 per cent to S$12.4 million.

The distributions will be paid on May 25, 2015. The books closure date is April 30, 2015.

The Reit added one cent to finish at S$0.815 on Wednesday's stock market.