Singapore-listed CapitaRetail China Trust (CRCT) has announced distributable income of S$17.9 million for the period from 1 April to 30 June 2013 (2Q 2013), an increase of 7.5 percent over the S$16.6 million for the corresponding period last year.
|CapitaRetail China Trust currently has a portfolio of 9 malls, 4 of which are in Beijing.|
However distribution per unit (DPU) for the quarter fell 1.2 percent to was 2.38 cents. Based on an annualised DPU of 9.55 cents and CRCT’s closing price of S$1.45 per unit on 17 July 2013, the annualised distribution yield is 6.6 percent.
Despite recent reports of a credit crisis looming in China, the REIT remains positive in its outlook. "With China’s continuing commitment to stimulate domestic consumption to drive economic expansion, CRCT remains positive on China’s retail growth prospects", said Mr Victor Liew, Chairman of – CapitaRetail China Trust Management Limited.
Unitholders can expect to receive their DPU for 2Q 2013, along with their DPU for 1Q 2013, totalling 4.69 cents on 25 September 2013. Units of CRCT are currently trading up by about 2.4 percent from its prevous close at S$1.49.
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