CDL Hospitality Trusts (CDLHT) said its total distribution per stapled security (DPS) for the second half ended Dec 31, 2023, dropped 11.1 per cent to 3.19 cents from 3.59 cents.
Total distribution to stapled security holders was down 10.7 per cent year on year to $39.8 million from $44.5 million previously, CDLHT's managers reported on Jan 30. They attributed the lower second-half total distribution and DPS to a rise in interest costs comprising funding costs on floatingrate loans and on the refinancing of fixed-rate loans, as well as interest expenses incurred on additional amounts drawn to finance asset-enhancement works.
The half-year period's total distribution and DPS figures come after factoring in retained working capital, and a capital distribution of $9.5 million.
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