Singapore, 21 July 2005 – CapitaCommercial Trust Management Limited (“CCTML”), the manager of CapitaCommercial Trust (“CCT”), is pleased to announce a distributable income of S$27.8 million to unitholders for the period 1 January 2005 to 30 June 2005.
CCT will pay a DPU of 3.24 cents for units trading on the main stock counter, CapitaComm, for the first half year 2005. This is equivalent to an annualised DPU of 6.53 cents for unitholders. Given this DPU, the distribution yield is 4.3% based on the closing price of S$1.51 per unit on 19 July 2005.
Pursuant to the equity fund raising completed on 29 April 2005, approximately 57.2 million new units were issued. These new units, which are traded on a temporary stock counter, CapitaComm A, will receive a DPU of 1.09 cents per unit for the period 29 April 2005 to 30 June 2005. On an annualised basis, the DPU is 6.32 cents, 3% higher than the forecast of 6.14 cents.
The Manager will be distributing 100% of its taxable income to unitholders from the next distribution period starting 1 July 2005. With our strong positive operating cash flow, we are pleased to announce an increase in the distributions to unitholders from 95% to 100%. In addition, following our recent success with HSBC Building, we are evaluating several acquisition opportunities to grow CCT’s portfolio”.
Announcements dated 21-Jul,
- News Release
- Q2/05 Results
- Notice of Book Closure and Distribution Payment Date
- Change in Income Distribution Policy
- Presentation Slides
Comments - Results were released during mid-day mkt close. No impact on share price and volume when mkt re-opens. The results were only slightly better than their own forecast. So, despite a slightly better dividend payout, new 100% profit payout policy from 1-Jul and planned China acquisitions (and possibly in mixed office and retail developments) with better yield in one year's time, the mkt just weren't excited. The current net yield is after all only 4.3% at $1.51. Will likely take a while for mkt to focus back on CCT. There's still the share over-hang fm Temasek's divestment at $1.51, current fever on property stocks after the new changes in CPF usage for properties and the coming MapleTree IPO. Not affecting CMT tho' :D
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