OIR Bites: Cache Logistics trades ex-dividend on 2 Aug

Stock Name: CACHE
Company Name: CACHE LOGISTICS TRUST

Research House: OCBC

Price Call: BUY

Target Price: 1.06

OIR Bites: Cache Logistics trades ex-dividend on 2 Aug

Dear TRs,

Cache Logistics Trust (Cache) trades ex-dividend tomorrow 2 Aug 2011.

DPU is 2.086 S cents and is payable on 29 Aug 2011.

Based on yesterday's closing price of S$0.99, this translates into an annualised distribution yield of 8.5%.

The group has a payout policy of 100% of distributable income for FY11. We are forecasting for a DPU of 7.9 S cents for FY11 (similar to Bloomberg consensus). A total DPU of 4.038 S cents has been declared as at 30 Jun 2011.

We currently have a BUY rating on Cache but our S$1.06 fair value estimate is under review due to a change in analyst coverage.


Best Regards,


Company Registration No: 198301152E