Singapore-listed office REIT CapitaCommercial Trust (CCT) (SGX:C61U) has announced a distribution per unit (DPU) of 2.18 Singapore cents for its 2Q 2014 that ended 30 June 2014.
This is 5.3% higher than the 2Q 2013 DPU of 2.07 cents from the corresponding period last year.
The DPU was recorded on the back of a higher distributable income which rose 7.6% to come in at SGD64.1 million as compared to the SGD59.6 million last year. Gross revenue for the quarter also increased by 3.2% to SGD65.8 million from SGD63.8 million.
In statement release 18 July, the REIT has attributed its performance for the quarter to higher revenue from its properties, lower interest expenses and a release of retained tax-exempt income distribution of SGD2.35 million.
The REIT has also reported an occupancy rate of 99.4% for its stable of properties during the quarter which is said to be higher than the market occupancy rate of 95.8%.
CCT, which pays out its DPU semi-annually, has indicated a distribution of 4.22 Singapore cents for the first half of 2014 representing an increase of 5.2% over the 4.01 Singapore cents paid out in the same period last year.
Unitholders of CCT can expect their distribution to be made on 26 August.
CCT ended the trading day almost 3% higher at SGD1.71 on the Singapore Exchange.