Introduction
Cromwell European REIT (SGX: CNNU) is a SGX-listed REIT that holds a portfolio of largely Office Properties based in Europe. It had successfully IPO-ed on its second attempt to list towards end of after adjusting the portfolio and the offering. Its sponsor is Australia-listed Cromwell Property Group. It trades in EUR dollars (for people investing with CPF-OA, you can't buy with CPF unless it's priced in SGD). The trust issues distribution semi-annually and intends to issue 100% of distributable income till FY2019.
Distribution
Its maiden distribution for period of 30 November 2017 to 30 June 2018 (7 months instead of 6 months) was paid out at EUR 0.0253 (SGD 0.04031) per unit. If we convert this to a semi-annual payment, it translates to EUR 0.02168 (SGD 0.03455) per unit. Based on its last traded price of EUR 0.545 as at 2nd November 2018, this translates to an annualised distribution yield of
