Mainboard-listed CDL Hospitality Trusts on Wednesday reported a higher distribution per unit (DPU) for the second quarter ended in June. It announced a DPU of 2.57 cents for the period, a 36 per cent on-year jump compared to last year's 1.89 cents. Distributable income rose by 38.7 per cent on-year to S$24.1 million while net property income increased 49.2 per cent on-year to S$28.7 million. The Trusts...
CDL Hospitality Trusts
Mainboard-listed CDL Hospitality Trusts said its new units were placed out at the lower end of its indicative range. It has fixed the issue price for each new unit at S$1.71. Its indicative range was between S$1.71 and S$1.77. At the price of S$1.71, it represents a discount of 7.1 per cent to the adjusted volume weighted average price of S$1.8402 per stapled security. CDL Hospitality said its private...
CDL Hospitality Trusts is placing out new stapled securities to raise net proceeds of up to S$196 million. The trust said the issue price will range between S$1.71 and S$1.77 per stapled security, with the final price fixed after a book-building exercise. This represents a discount of 6.3 per cent to 9.4 per cent to the counter's volume weighted average price on Monday. The placement aims to raise S$150...
Mainboard listed CDL Hospitality Trusts said it will pay 2.23 Singapore cents per unit in the third quarter, down about 24 per cent on-year. Its total income available for distribution in the quarter came to S$18.6 million. Mr Vincent Yeo, CEO of M&C REIT Management, said the weaker on-year performance reflects the impact of the global recession on travel since the beginning of this year. For the...
CDL Hospitality Trusts will pay unitholders 1.8 cents per stapled security for the fourth quarter ending December 31, 2008. This is about 34 per cent lower than the same period in 2007. But the full-year distribution per unit is up by 18 per cent to 10.62 cents in 2008, compared with a year ago. The Trust said its net property income rose nearly 20 per cent on-year to S$102.8 million. Gross revenues...
CDL Hospitality Trusts posted a 41.8 per cent increase in income available for distribution to 8.82 Singapore cents per unit for the first nine months of 2008, compared to the same period in 2007. At the same time, revenue grew 38 per cent to S$86.5 million. Its net property income of S$27.3 million for the third quarter was up 20.7 per cent from S$22.6 million a year ago, while gross revenue grew 21.3...