CapitaLand Retail China Trust announced on 27 July that it has recorded a distribution per unit (DPU) of 2.61 Singapore cents for its 2Q 2016, a fall of 4.4% from the 2.73 cents recorded for 2Q 2015.
This came on the back of a 5.1% and 1.5% year-on-year fall in gross revenue and net property income for the period, both of which came in at SGD51.5 million and SGD35.5 million respectively.
The Singapore-listed industrial REIT’s gearing for the period was at 29.2% with cost of borrowings at 2.97%.
CapitaLand Retail China Trust has elected to apply the distribution reinvestment plan (DRP) established in March 2013, which allows for the receipt of distribution payment in the form of new units, for 2Q 2016.
To encourage unitholders to participate in this round of DRP, the REIT will offer a 2.0% discount to the volume-weighted average trade price per unit of ten market days up to the book closure date on 4 August 2016, it said.
Units of the CapitaLand Retail China Trust were last done on the Singapore Exchange at SGD1.60.