Mapletree Logistics Trust Share Price & Dividend Guide (2026)
Mapletree Logistics Trust (MLT, SGX: M44U) is Singapore’s largest pure-play logistics REIT, with approximately 180 properties across nine Asia-Pacific markets. As at July 2026, MLT’s share price trades in the S$1.20–S$1.45 range, offering an estimated distribution yield of 5.5–6.5% based on its recent Distribution Per Unit (DPU). This guide covers MLT’s full dividend history, DPU trend, payout schedule, and what Singapore investors need to know in 2026.
Not financial advice. All figures are for educational reference only. Data as at July 2026 unless noted.
- MLT is a pan-Asian logistics REIT managed by Mapletree Investments, a Temasek Holdings subsidiary
- Annual DPU peaked at S$0.0908 (FY21/22) and has declined to ~S$0.074–0.076 due to China headwinds and higher borrowing costs
- The current forward yield of ~5.5–6.5% is competitive — but watch the DPU recovery trajectory before committing capital
Table of Contents
What Is Mapletree Logistics Trust?
Mapletree Logistics Trust (SGX: M44U) is a real estate investment trust focused on logistics and warehouse properties across the Asia-Pacific region. It was listed on the SGX in July 2005 — one of Singapore’s oldest REITs still actively trading.
MLT is managed by Mapletree Logistics Trust Management Ltd, a wholly-owned subsidiary of Mapletree Investments Pte Ltd, which is in turn owned by Temasek Holdings. That government-linked parentage gives MLT strong institutional backing and disciplined capital allocation.
As at July 2026, the portfolio spans approximately 180 properties across nine countries: Singapore, Australia, China, Japan, South Korea, Malaysia, Vietnam, India, and Hong Kong. Assets include modern distribution centres, multi-temperature warehouses, and last-mile logistics hubs — all benefiting from the Asia-Pacific e-commerce and supply-chain buildout.
| Key Fact | Detail |
|---|---|
| SGX Ticker | M44U |
| Listed Since | July 2005 |
| Asset Type | Logistics, Warehouses, Distribution Centres |
| Properties | ~180 across 9 Asia-Pacific countries |
| Manager | Mapletree Investments (Temasek-linked) |
| Distribution Frequency | Quarterly |
| CPF Investment Scheme | Yes — CPF OA eligible |
Source: Mapletree Logistics Trust investor relations, SGX, July 2026.
MLT Share Price: History and Current Performance
MLT’s share price has moved through several cycles since its 2005 IPO at S$0.68. Understanding where the price has been helps you judge whether today’s entry point is reasonable.
The 2020–2021 pandemic era brought a surprise tailwind for logistics REITs. E-commerce demand exploded, supply chains restructured, and investors piled into logistics assets. MLT’s unit price climbed above S$1.90 at its 2021/22 peak — more than 2.5x its IPO price.
Then came the rate hike cycle. From 2022 onwards, the US Federal Reserve raised interest rates aggressively to combat inflation. Higher rates hurt REITs in two ways: financing costs rise (compressing DPU), and safer alternatives like fixed deposits and T-bills compete for income-seeking capital. MLT’s price declined from its peak to the S$1.20–S$1.45 range where it trades today.
Always check the live price on SGX or your brokerage app — the number above changes daily.
| Period | Approx. Price (S$) | Key Driver |
|---|---|---|
| 2005 IPO | 0.68 | Debut price |
| 2019 | 1.35–1.50 | Steady growth, e-commerce expansion |
| 2021 Peak | ~1.95 | Low rates + pandemic logistics boom |
| 2022–2023 | 1.45–1.70 | Rate hike pressure, China concerns |
| 2024–2025 | 1.20–1.45 | Sustained rates + China weakness |
| Jul 2026 | 1.20–1.45 | Stabilising, DPU recovery watched |
Source: SGX historical data, approximate price ranges for reference only. Prices subject to daily change.
Mapletree Logistics Trust DPU History
Distribution Per Unit — or DPU — is the number that matters most for dividend investors. It tells you how many Singapore cents you receive per unit per quarter. Multiply by four and divide by your purchase price to get your annual yield.
MLT’s DPU peaked in FY2021/22 at S$0.0908 per year (approximately S$0.0227 per quarter). Since then, DPU has declined. Three factors explain the trend:
- China portfolio drag (~27% of Net Property Income): Economic slowdown, oversupply of logistics space in lower-tier Chinese cities, and weaker rental reversions have compressed net property income from China
- Higher borrowing costs: MLT’s total debt financing expenses have risen substantially since 2022, reducing the income available for distribution
- Portfolio pruning: MLT has divested older, lower-yielding assets. While earnings-per-unit-accretive over the long run, divestments create short-term income gaps
For context: if you own 10,000 MLT units and the quarterly DPU is S$0.019 (equivalent to S$0.076 annually), you receive approximately S$190 per quarter — or S$760 per year — before any applicable costs.
| Financial Year | Annual DPU (S$) | YoY Change | Notes |
|---|---|---|---|
| FY2020/21 | 0.0811 | — | COVID recovery; SG and AU performing |
| FY2021/22 | 0.0908 ★ | +12% | Record DPU; all markets outperformed |
| FY2022/23 | 0.0888 | −2% | Rate hikes begin; FX headwinds |
| FY2023/24 | 0.0800 | −10% | China NPI weakness; financing costs up |
| FY2024/25 | 0.0760 | −5% | Continued pressure; divestment cycle |
| FY2025/26E | 0.0720–0.0760 | ~0% to −5% | Stabilising; recovery hinges on China |
Source: Mapletree Logistics Trust annual reports, SGX filings. FY2025/26E is analyst consensus estimate as at July 2026. ★ = peak DPU on record.
For Singapore income investors, it is important to distinguish between a one-year DPU dip and a structural decline. MLT’s management has signalled stabilisation — and if China’s logistics market rebounds, the DPU trend could reverse in FY2026/27. You can explore how this fits your retirement income target using our Singapore retirement calculator.
MLT Dividend Yield in 2026: What Can You Expect?
The dividend yield is your annual income as a percentage of your purchase price. It changes every day as the share price moves — even if the DPU stays constant. Here’s the formula:
If MLT’s annual DPU is S$0.076 and you buy units at S$1.30 each:
Yield = S$0.076 ÷ S$1.30 × 100 = 5.85%
That’s why a price fall can actually improve the income outlook for new buyers — you get the same distribution but at a lower cost.
| MLT Price (S$) | Assumed DPU (S$) | Implied Annual Yield |
|---|---|---|
| 1.15 | 0.0760 | 6.6% |
| 1.20 | 0.0760 | 6.3% |
| 1.30 | 0.0760 | 5.85% |
| 1.40 | 0.0760 | 5.4% |
| 1.50 | 0.0760 | 5.1% |
Source: TKN calculations using estimated FY2025/26E DPU of S$0.076. Actual DPU subject to quarterly announcements. Not financial advice.
Compared to its logistics REIT peers, MLT’s current yield sits in the middle of the pack — Frasers Logistics & Commercial Trust (FLCT) offers a slightly higher yield (~6.5%) while ParkwayLife REIT at the lower end (~3.8%) targets healthcare rather than pure logistics. For a broader comparison of top-yielding trusts, see our guide to the best S-REITs in Singapore 2026.
MLT Distribution Payout Dates and Schedule
MLT pays quarterly — four distributions per year. For income investors, this is more convenient than semi-annual REITs because cash flows arrive more frequently to reinvest or spend.
MLT’s financial year runs from April to March. Here’s the typical quarterly payout schedule:
| Quarter | Period Covered | Typical Payment Month |
|---|---|---|
| Q1 | April – June | August / September |
| Q2 | July – September | November / December |
| Q3 | October – December | February / March |
| Q4 | January – March | May / June |
Source: Mapletree Logistics Trust investor relations. Exact dates vary by year — always check SGX SGXNET for official announcements.
Critical: You must hold MLT units BEFORE the ex-dividend date (XD date) to qualify for each distribution. Buying on or after the XD date means you miss that quarter’s payout. The XD date is usually announced 4–6 weeks before the payment date. Track upcoming XD dates on SGX.com or your brokerage app.
Distributions are paid in SGD directly to your Central Depository (CDP) account. There is no withholding tax on Singapore REIT distributions for Singapore tax residents — unlike dividend income from some overseas stocks and funds.
Key Risks to MLT’s Dividend in 2026
A 5.5–6.5% yield sounds attractive — but it comes with real risks. Here’s what every MLT investor should monitor before and after buying.
1. China Exposure (~27% of Net Property Income)
MLT’s single biggest risk factor is its China portfolio. Slower economic growth, overbuilding of logistics parks in tier-2 and tier-3 cities, and tenants downsizing their warehouse footprints have all weighed on China’s NPI. Until China’s logistics market absorbs its oversupply, this headwind is unlikely to reverse quickly.
2. Interest Rate Sensitivity
MLT’s aggregate leverage (gearing ratio) sits around 37–38%. That means a meaningful share of its income goes towards interest payments. If global rates stay higher-for-longer — or if MLT needs to refinance at elevated rates — distributable income gets squeezed further.
3. Currency Risk
MLT generates income in AUD, JPY, KRW, CNY, HKD, and VND. When these currencies weaken against the SGD, your DPU in Singapore dollars falls — even if the underlying properties are fully occupied and performing well. This is a structural risk for any pan-Asian REIT.
4. Occupancy and Lease Expiry Risk
Any sustained drop in occupancy — particularly in China, or among major anchor tenants — would reduce rental income. Watch MLT’s quarterly business updates for portfolio occupancy rates and weighted average lease expiry (WALE) data.
5. Unit Dilution from Manager Fees
Like most REITs, MLT pays part of its management fees in new units. This slowly dilutes existing unitholders. It’s a minor but ongoing drag on per-unit distributions over the long run.
Despite these risks, MLT benefits from Temasek-grade governance, a diversified multi-country portfolio, and exposure to the secular e-commerce and supply-chain growth story across Asia-Pacific. For more on balancing S-REIT income against risk, see our overview of passive income in Singapore 2026.
How to Buy Mapletree Logistics Trust (MLT) in Singapore
MLT (M44U) trades on the Singapore Exchange (SGX) and is accessible through any CDP-linked brokerage. Here’s a step-by-step guide:
- Open an SGX brokerage account — Choose from Syfe Brokerage, FSMOne, Interactive Brokers (IBKR), DBS Vickers, or any local bank broker with SGX access
- Fund your account in SGD — Most platforms allow bank transfers from DBS, OCBC, UOB, or PayNow
- Search “M44U” — That’s MLT’s SGX ticker symbol. Enter a buy order for the number of lots you want
- Buy in lots of 100 units — At S$1.30/unit, one lot costs ~S$130. Most investors start with 5–10 lots to keep brokerage costs proportional
- Collect quarterly distributions — Paid directly to your CDP account four times a year
Buying MLT with CPF or SRS Funds
MLT is on the CPF Investment Scheme (CPFIS) approved list. You can invest your CPF Ordinary Account (OA) money in MLT units through a CPFIS-approved broker such as DBS Vickers, OCBC Securities, or UOB Kay Hian.
Important: CPF OA earns a guaranteed 2.5% per annum. MLT’s current yield (~5.5–6.5%) exceeds this benchmark — but your actual returns depend on both DPU received AND any unit price change. If MLT’s price falls significantly after you buy, total return could underperform the risk-free CPF rate. Factor this in carefully. For CPF-based fund investing (not direct stocks), Endowus (referral code 2V343) offers access to diversified funds via CPF.
For SRS (Supplementary Retirement Scheme) investing, most major brokers support buying SGX-listed stocks including MLT via SRS funds.
Broker Comparison for S-REIT Investing
The right broker depends on how frequently you trade and how much you invest per transaction. For most Singapore retail investors buying S-REITs in lots of S$500–S$5,000, these platforms are popular:
| Broker | Referral Code | Best For |
|---|---|---|
| Syfe Brokerage | SRPRFFFCD | Low-cost SGX trades, user-friendly app |
| FSMOne | P0544985 | Stocks, ETFs, bonds on one platform |
| Endowus | 2V343 | CPF/SRS funds, managed portfolios |
TKN earns a referral fee when you sign up using these codes. This does not affect our editorial content.
Frequently Asked Questions: MLT Dividend & Share Price
What is MLT's current dividend yield?
As at July 2026, MLT’s estimated dividend yield is approximately 5.5–6.5%, based on a trailing annual DPU of around S$0.074–0.076 and a share price in the S$1.20–S$1.45 range. The yield changes daily with the share price — calculate it fresh using the live price when you buy: Annual DPU ÷ Share Price × 100%.
When does Mapletree Logistics Trust pay dividends?
MLT distributes quarterly. Typical payment months are: August/September (Q1), November/December (Q2), February/March (Q3), and May/June (Q4). Exact dates are announced via SGX SGXNET. You must hold units before the ex-dividend (XD) date to receive each payout.
What is MLT's DPU for FY2025/26?
Based on analyst consensus as at July 2026, MLT’s estimated annual DPU for FY2025/26 (April 2025 – March 2026) is S$0.0720–0.0760. This compares to S$0.0760 in FY2024/25 and the record S$0.0908 in FY2021/22. Check SGX filings for the most current quarterly DPU announcements from the REIT manager.
Can I use CPF to invest in Mapletree Logistics Trust?
Yes. MLT (M44U) is approved under the CPF Investment Scheme (CPFIS), so you can invest your CPF Ordinary Account (OA) savings in MLT through a CPFIS-approved broker. Bear in mind that CPF OA earns a risk-free 2.5% p.a. — only invest OA funds in MLT if you believe its total return (DPU + any capital appreciation) meaningfully exceeds this rate on a risk-adjusted basis.
Is MLT a good buy in 2026?
MLT offers ~5.5–6.5% yield at current prices, backed by Temasek-linked management and a diversified Asia-Pacific logistics portfolio. The primary risks are China weakness (~27% of NPI) and sustained high borrowing costs. MLT may suit dividend investors with a 3–5 year horizon who can tolerate short-term DPU volatility. Always assess your own risk profile and consult a licensed financial adviser before investing. This is not financial advice.
How does MLT compare to Frasers Logistics Trust (FLCT)?
Both are logistics REITs on the SGX. The key differences: MLT is focused on Asia-Pacific (China, Japan, Korea, Australia, Southeast Asia) while FLCT has significant Australia and European exposure. MLT is larger by portfolio size. FLCT’s current estimated yield (~6.5%) is slightly higher than MLT’s, partly because FLCT trades at a greater discount to book. Your preference depends on which geography you’re more comfortable with.
How often does MLT pay dividends and where does the money go?
MLT pays four times a year (quarterly). Distributions are deposited in SGD directly into your Central Depository (CDP) account, which is linked to your brokerage. There is no withholding tax for Singapore tax residents on REIT distributions (unlike some foreign stock dividends). The money typically appears in your CDP within 1–2 business days of the payment date.
Start Collecting S-REIT Dividends Today
Use these referral codes to open a brokerage account and start investing in MLT and other high-yield Singapore REITs.
| Platform | Referral Code | Best For |
|---|---|---|
| Syfe Brokerage | SRPRFFFCD | Low-cost SGX & S-REIT trading |
| FSMOne | P0544985 | Stocks, ETFs, bonds one platform |
| Endowus | 2V343 | CPF, SRS, and cash fund investing |
TKN earns a referral fee when you sign up. This does not affect our editorial independence. All content is for educational purposes only and does not constitute financial advice.
This article was researched with the help of AI. While we strive to keep all information accurate and up to date, there may be errors. If you notice any discrepancies, please contact us.
