REIT Financial News - Q2 2010 Quarterly Earnings Report for CDL H-Trust

Second quarter 2010 results for CDL H-Trust:

• Press Release
• Financial Statements
• Presentation Slides

Key Points

• DPU available for distribution for 2Q 2010 is 2.87 cents. DPU to be actually distributed is 2.57 cents based on its 90% distribution policy.
• DPU to be distributed for 1H 2010 is 4.89 cents.
• RevPAR for Singapore Hotels increased 45.4% to S$195 for 2Q 2010.
• Sustained growth momentum with strong tourism drivers and strengthened financial position.
• CDLHT experienced high occupancies of 88.5% in 2Q 2010, exceeding previous Q2 peaks since the inception of the CDLHT while achieving strong rate increases.
• On 1 July 2010, CDLHT successfully raised S$200 million through an over-subscribed overnight private placement which resulted in a strengthened balance sheet with a gearing of 18.6%.

Author's Note
The semi-annual DPU for 1H 2010 of 4.89 cents will be paid on 27 Aug 2010. 
The book closure date was way back on 30 Jun 2010 as advance distribution for existing unit holders because of the private placement exercise in early July.

In the previous quarter, the DPU available for distribution was 2.58 cents, and the DPU to be actually paid out was 2.32 cents.