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CDL Hospitality Trusts posts rise in distribution for Q4 2013

Published on Jan 29, 2014 9:06 AM

CDL Hospitality Trusts said on Wednesday it will pay out a distribution of 2.92 cents per stapled security for the three months to Dec 31 last year, a 0.7 per cent rise over the same quarter a year ago.

The Singapore-listed stapled trusts, comprising CDL Hospitality Real Estate Investment Trust and CDL Hospitality Business Trust, posted $31.6 million in income for distribution for the quarter, 1.3 per cent higher than the previous year.

Net property income climbed 2.5 per cent in the period to $36.5 million, while revenue rose 2.8 per cent to $39.4 million.

For the full year, net property income slid 1.4 per cent to $137.4 million and revenue dipped 0.5 per cent to $149.5 million.

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