Mapletree Industrial Trust DPU grows 6.4% in Q3 FY21/22

The growth was supported by the portfolio acquisition of data centres in North America.

Mapletree Industrial Trust (MIT) has announced its distribution per unit (DPU) for the third quarter (Q3) of the financial year 2021/2022 (FY21/22) grew 6.4% year-on-year (YoY) to 3.49 cents on an enlarged unit base, which arose from the equity fundraising exercise completed in the first quarter of FY21/22.

Gross revenue and net property income for Q3 FY21/22 increased 31.3% and 24.1% YoY to $162.4m and $122.7m, respectively. The increases were mainly driven by contributions from the acquisition of 29 data centres in the United States of America Amount available for distribution to unitholders for Q3 FY21/22 rose by 10.4% YoY to $89.5m.

MIT Management CEO Tham Kuo Wei said, "Our portfolio rebalancing efforts towards higher value segments have enabled us to deliver another quarter of robust results. While the global economic recovery remains uneven, we will continue to strengthen the portfolio through strategic acquisitions and developments. The resumption of the distribution reinvestment plan will help to finance the redevelopment of the Kolam Ayer 2 Cluster and provide us with the greater financial flexibility to seize investment opportunities."

Unitholders can expect to receive their quarterly distribution per unit for the period from 1 October 2021 to 31 December 2021 in cash or dividend reinvestment plan units on 15 March 2022.