CDL Hospitality on Friday reported a 3 percent fall in distribution per stapled security, reflecting the effects of a rights issue completed in August.
Distribution per stapled security (DPS) dropped to 2.29 Singapore cents in the three months ended September 30 compared with 2.36 Singapore cents in the year-ago quarter.
Including the effect of the rights issue, DPS decreased by 3 percent, the company said in a statement.
Total distribution increased 13.3 percent in the third quarter to S$27.4 million, the company said.
Year-to-date total distribution increased 12 percent as a result of growth in overall portfolio net property income and capital distribution.
Net property income advanced 15.9 percent to S$40.4 million, helped by higher contribution from New Zealand Hotel, stable performance of Singapore
portfolio and inorganic contribution from the Lowry Hotel and Pullman Hotel Munich.
Singapore-listed CDL Hospitality Trusts has assets worth S$2.7 billion as of September 30. It owns 17 hotels and two resorts comprising a total of 5,414 rooms as well as a retail mall.
Shares in CDL Hospitality fell 0.3 percent to S$1.64 on the Singapore Exchange. The stock has gained 28 percent so far this year.
