Mapletree Industrial Trust reports gain, will pay out 2.32 cents per unit for Q3
INDUSTRIAL landlord Mapletree Industrial Trust (MIT) has eked out a 7.4 per cent gain in distribution per unit to 2.32 cents for the third quarter.
The distributable income for the three months ended Dec 31 rose by 6.9 per cent to $37.7 million, driven by healthy rental revenue and improved occupancies in flatted factories and stack up buildings.
Net property income climbed by 7.7 per cent to $49.1 million on the back of a 5.4 per cent gain in gross revenue to $69.2 million.
MIT will be introducing a re-investment plan that will enable unitholders to acquire new units without incurring additional transaction costs.