It’s been an interesting journey for the CapitaLand Group in the last two years.
CapitaLand Limited had privatised its development arm and listed its investment arm as CapitaLand Investment Limited (SGX: 9CI), or CLI, last year.
Then, CLI had reported a commendable performance for its maiden fiscal 2021 (FY2021) earnings report while declaring a final dividend of S$0.12 and a special dividend of S$0.03, taking the total FY2021 dividend to S$0.15.
Yesterday, the property giant released its business update for fiscal 2022’s first quarter (1Q2022).
From this report, we try to discern if the group can increase its dividends for 2022.
A commendable performance
CLI’s 1Q2022 financial performance was encouraging as it reported a 16% year on year growth in revenue to S$598 million.
The firm’s fee-income related business (FRB) saw a 17% year on year increase to S$262 million, driven by its lodging and fund management divisions.
This amount also includes a S$31 million performance fee recognised under other operating income....