Cache Logistics Trust reports 34.1% drop in 1Q DPU to 0.997 cents

SINGAPORE (Apr 28): The manager of Cache Logistics Trust has declared a distribution per unit (DPU) of 0.997 cents for 1Q2020 ended March. This is down 34.1% from 1Q2019’s DPU of 1.513 cents.

Distributable income to unitholders fell 33.5% to $10.9 million; $2.5 million was retained mainly to conserve capital to address potential rental deferment, as well as potential waivers required to support some tenants through this challenging period.

Excluding one-off items, adjusted DPU for 1Q2020 would have been 1.226 cents, some 14.1% lower than a year ago.