CapitaMall Trust says it has achieved a distribution per unit (DPU) of 2.291 cents for the first quarter of 2011 (1Q 2011). This is 3.0% higher than the DPU of 2.23 cents for the same period in 2010.
CapitaMall Trust, which owns and invests in shopping malls, is Singapore’s largest REIT by asset size of $8.4 billion and by market cap of $6 billion.
CMT’s gross revenue increased 10.7% year-on-year to $154.0 million in 1Q 2011. During the same period, CMT’s NPI grew 8.2% over the corresponding quarter in 2010. In 1Q 2011, rental renewal rates saw positive growth of 7.5% over preceding rental rates. CMT’s portfolio occupancy continued to be strong at 99.2% as at 31 March 2011.
Unitholders can expect to receive their 1Q 2011 DPU on 30 May 2011. This translates to an annualised distribution yield of 4.99% based on CMT’s closing price of $1.86 per unit on 20 April 2011.
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