Singapore REIT CapitaMall Trust boosts dividend by 24.4%

01/22/2010 | Channel NewsAsia

Crediting strong occupancy for the improvement, CapitaMall Trust raised its fourth-quarter dividend to 1.7 cents per unit, a 24.4% increase over the payout for the same period a year ago. "Last year itself, not all retailers were in an expansion mode, some retailers were in bad shape," said Simon Ho, CEO of CapitaMall Trust Management. "We helped those that needed help. We squeezed a bit more rental from those who could afford to pay."

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