Mapletree Ind Trust's first-quarter distribution per unit fell 4.7% year-on-year to 3.27 cents
As of the end of June, Mapletree Industrial Trust's distribution per unit (DPU) for the first quarter decreased by 4.7% year-on-year to 3.27 cents, with the distribution amount falling by 4.1% to HKD 93.25 million. The main reason is that the net sale gains from the Donglingfu portfolio were included in the same period last year, and the joint venture Mapletree Rosewood Data Centre Trust experienced increased borrowing costs due to interest rate swaps and repricing. Nevertheless, total revenue and net property income for the first quarter grew by 0.30% and 0.80% year-on-year, respectively. The trust will distribute dividends on September 8, with the unit registration deadline set for August 5
Mapletree Industrial Trust reported a distribution per unit (DPU) of 3.27 cents for the first quarter ending June, a year-on-year decrease of 4.70%.
It noted that revenue and net property income growth were primarily driven by the revenue contribution from the acquisition of a mixed-use facility with a freehold in Tokyo, Japan on October 29, 2024, the completion of the final phase of renovations at the Osaka data center, and new leases and renewals across various property groups.
The trust indicated that the DPU for the first quarter was lower than the same period last year mainly because the DPU for the same period last year included net sale proceeds from the Tanglin Halt Cluster. The DPU amount for the first quarter decreased by 4.1% year-on-year to SGD 9.325 million, primarily due to increased borrowing costs resulting from the repricing of interest rate swaps by the joint venture Mapletree Rosewood Data Centre Trust, which reduced cash distributions.
Further Reading
The business report released by Mapletree Industrial Trust after the market closed on Monday (July 28) showed that total revenue and net property income for the first quarter increased by 0.30% and 0.80% year-on-year, reaching SGD 175.88 million and SGD 133.62 million, respectively.
Mapletree Industrial Trust's stock price rose by 0.49% on Monday, closing at SGD 2.07.
The trust will distribute dividends on September 8, with the unit registration cutoff date on August 5
