REIT Financial News - 22 APR 2010: Quarterly Earnings Report for Frasers Comm

First quarter 2010 results for Frasers Commercial Trust:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• FCOT achieves an 82% increase in distributable income for 2Q DPU up 78%; total distributable income (including CPPU) up 167%.
• Total distributable income was up by 167% year-on-year from S$5.42 million to S$14.48 million, of which S$4.65 million is available for distribution to Series A Convertible Perpetual Preferred Units (CPPU) holders.
• Distributable income to Unitholders increased by 82% to S$9.84 million.
• DPU of 0.32 cents, up by 78% from a year earlier and by 33% when compared to the preceding quarter.

Author's Note
Including the DPU of 0.24 cents in the previous quarter, the total DPU of 0.56 cents will XD on 29 Apr 2010 and will be paid on 27 May 2010.

Based on the last closing price of the Reit of $0.14 on 22 April 2010, the semi-annual 0.56 cents translates to an annualised yield of 8.0%. The latest quarterly DPU of 0.32 cents translates to an annualised yield of 9.14%.