First payout for Croesus Retail Trust exceeds forecasts
Croesus Retail Trust, listed in Singapore with a portfolio of retail properties in Japan, has posted a higher-than-forecast debut payout to unitholders.
It will pay a distribution per unit of 5.24 cents for the period between its listing on May 10 last year and Dec 31 last year.
This is 3.1 per cent above its forecast distribution of 5.08 cents per unit and will be paid out on Mar 31, the trust said on Friday.
Its revenue and net property income also exceeded forecasts. Revenue was 0.7 per cent higher than expected at 3.3 billion yen (S$40.7 million), while net property income came in 2.8 per cent above estimates at 2.1 billion yen.