Mapletree Logistics Trust Announces Key Dividend Updates and Taxation Guidelines
Mapletree Logistics Trust (MLT) has announced critical updates regarding its 3Q FY24/25 dividend distribution, taxation guidelines, and adjustments to its Distribution Reinvestment Plan (DRP). Shareholders should take note of these developments, as they may influence investment decisions and MLT’s share valuation.
Key Dividend Announcement
MLT will distribute 2.003 Singapore cents per unit for the period from 1 October 2024 to 31 December 2024, payable on Thursday, 13 March 2025. This distribution comprises:
- Taxable income: 0.554 Singapore cents per unit
- Tax-exempt income: 0.462 Singapore cents per unit
- Capital component: 0.987 Singapore cents per unit
Shareholders whose securities accounts with The Central Depository (Pte) Limited are credited with units as of 5:00 PM on Friday, 31 January 2025, will be eligible for this payout.
Suspension of Distribution Reinvestment Plan
In a significant update, MLT has announced the suspension of its Distribution Reinvestment Plan (DRP) starting with the 3Q FY24/25 distribution. Unitholders will now receive their quarterly distributions entirely in cash. The Manager has left the door open to reintroduce the DRP at a later date, subject to further notification.
Taxation Guidelines for Shareholders
MLT has provided detailed tax implications for unitholders receiving the 3Q FY24/25 distribution:
- The tax-exempt income and capital components are not subject to tax in Singapore.
- The taxable income component may be subject to tax, depending on the shareholder’s tax residency and structure. Some shareholders, including Singapore-resident individuals and companies, are eligible for a gross distribution with no tax deducted at source.
- Non-resident non-individuals and qualifying non-resident funds will receive the taxable income component net of a reduced 10% tax rate, provided they complete the required “Declaration for Singapore Tax Purposes Form A” by 5:00 PM on Tuesday, 18 February 2025.
Important Deadlines and Administrative Notices
Key dates and deadlines for shareholders include:
- 28 January 2025: First day of “ex-distribution” trading
- 31 January 2025: Closure of MLT’s Transfer Books and Register of Unitholders
- 4 February 2025: Dispatch of “Declaration for Singapore Tax Purposes Form A” and Form B to shareholders and depository agents
- 18 February 2025: Deadline to submit completed tax declaration forms
- 13 March 2025: Payment of cash distribution to unitholders
Failure to submit tax declaration forms by the specified deadline will result in a default tax deduction of 17% on the taxable income component.
Shareholder Advisory
Shareholders under the Central Provident Fund Investment Scheme or the Supplementary Retirement Scheme will automatically receive a gross distribution and are not required to submit any forms. All unitholders are advised to consult their tax advisors regarding their specific tax obligations and implications.
