REIT Financial News - 30 APR 2010: Quarterly Earnings Report for CDL H-Trust

First quarter 2010 results for CDL H-Trust:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• Gross revenue increased 18.1% to S$26.6 million
• Income available for distribution per Stapled Security rose 18.3% to 2.58 cents.
• Strong RevPAR growth of 15.8% to S$174 for Singapore Hotels.
• Continuation of robust growth in hospitality demand on the back of strong tourism drivers boosted by the phased opening of the Integrated Resorts.

Author's Note

Currently the Reit pays out 90% of the income available for distribution. So the DPU to be distributed for the quarter is 2.32 cents. Based on the lastest closing price of the Reit of $1.93 on 30 April 2010, the DPU of 2.32 cents translates to an annualised yield of about 4.8%.

There will be no distribution payment this quarter as CDL H-Trust distributes semi-annually. The DPU of 2.32 cents will be paid in the next quarter together with the DPU for the next quarter.

The DPU for the previous quarter was 2.67 cents.

Latest updates at Results Release.