Viva Industrial Trust Q4 DPS down 3.9% to 1.634 cents

An artist’s impression of Viva Business Park (formerly known as Technopark@Chai Chee).
An artist’s impression of Viva Business Park (formerly known as Technopark@Chai Chee).PHOTO: VIVA INDUSTRIAL TRUST

SINGAPORE - Singapore-focused business park and industrial property trust Viva Industrial Trust has posted a 20.6 per cent rise in distributable income of S$12.5 million in the fourth quarter.

Gross revenue in the three months to Dec 31 rose 18.5 per cent from a year ago to S$19.7 million.

Fourth quarter distribution per stapled security (DPS) fell 3.9 per cent to 1.634 cents.

Full-year distributable income rose 15.9 per cent from a year ago to S$47.5 million, as gross revenue rose 19.8 per cent to S$74 million.

This brought Viva's full-year DPS up 2.4 per cent to 7 cents.

Based on the trust's closing price of S$0.71 on Dec 31, the full-year DPS of 7 cents translates to a yield of 9.9 per cent, Viva said in a statement to shareholders on Tuesday (Jan 26).

Mr Wilson Ang, chief executive of Viva Industrial Trust Management, said that full-year income was boosted by contributions from Jackson Square and Jackson Design Hub, and new income contributions from Home-Fix Building and 11 Ubi Road 1 which were acquired in November last year.

Higher income contributions also came from Viva Business Park (formerly known as Technopark@Chai Chee) and the business park space at UE BizHub East, the trust said.

Net asset value per stapled security rose to 81.29 cents as at Dec 31, up from 75.82 cents a year ago.

At the end of Dec, Via had a portfolio of seven properties located in Singapore valued at S$1.1 billion.

This will increase to S$1.2 billion with the acquisition of an additional property located at 30 Pioneer Road and the completion of an asset enhancement initiative at Viva Business Park, the trust said.