CDL surprises shareholders with distribution of CDLHT units

Group swings into the black with a net profit of S$129.7m for H2, compared with a net loss of S$1.92b in the year-ago period

Kalpana Rashiwala

Published Sat, Feb 26, 2022 · 05:50 AM

Singapore property

Singapore

PROPERTY and hospitality group City Developments Ltd (CDL) is proposing to reward its shareholders with a total payout of 31.1 Singapore cents for FY2021, the bulk of it from a special distribution in specie amounting to 11.7 per cent of the units in CDL Hospitality Trusts (CDLHT).

This came as the group swung into the black with a net profit of S$129.7 million for its second half ended Dec 31, 2021, compared with a net loss of S$1.92 billion in the year-ago period.