Viva Industrial Trust Q2 DPS down 5.4% on share placements, offering

SINGAPORE - Viva Industrial Trust has delivered a distribution per stapled security (DPS) of 1.750 Singapore cents in the second quarter, down 5.4 per cent from the same period a year ago.

The Singapore-focused business park and industrial property trust posted a 28.8 per cent rise in distributable income to S$15.1 million in the three months ended June 30, but this was offset by Viva's enlarged share base following the completion of two private placements and a preferential offering last year.

Gross revenue rose 31.3 per cent to S$23.4 million, lifted by higher rental contributions from three newly acquired properties.

Mr Wilson Ang, chief executive of Viva Industrial Trust Management, said: "Our strategic acquisitions over the past quarters, combined with the gradual fruition of our asset enhancement initiatives, have reaped healthy returns in the second quarter."

As at June 30, the trust had a portfolio of eight properties with an aggregate valuation of about S$1.2 billion.

The weighted average portfolio occupancy has also risen to 87.9 per cent in the second quarter from 80 per cent in the same period last year.