Viva Industrial Trust announces 7.7% higher DPS of 1.76 cents

SINGAPORE (Jan 26): The manager of Viva Industrial Trust (VIT), the Singapore-focused business park and industrial property trust, reported a 7.7% year-on-year increase in DPS to 1.760 cents, on the back of a steady rise in distributable income by 27.9% to reach $15.9 million.

Additional income contributions came from Home-Fix Building and 11 Ubi Road, which were acquired on 24 November 2015; 30 Pioneer Road, which was acquired on 15 April 2016; and VBP, which arose mainly from its retail units at 750 and 750A, and its contestable electricity bulk purchase programme.

The FY2016 DPS of 6.958 cents was 0.6% lower than that of FY2015, due to the enlarged share base following the completion of two private placements and a preferential offering in FY2015, as well as a private placement in November 2016 to partially fund the acquisition of 6 Chin Bee Avenue.

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