Plaza Retail REIT Announces October 2018 Distribution and Suspension of DRIP
Oct 15, 2018
FREDERICTON, Oct. 15, 2018 /CNW/ - Plaza Retail REIT ("Plaza") (TSX: PLZ.UN) today announced its October 2018 monthly distribution in the amount of $0.02333 per unit ($0.28 annualized). The October distribution will be payable on November 15, 2018 to unitholders of record as at October 31, 2018.
Plaza also announced today that it has suspended its Distribution Reinvestment Plan ("DRIP") until further notice. Commencing with the October 2018 distribution, unitholders enrolled in the DRIP will receive distribution payments in cash. If Plaza elects to reinstate the DRIP in the future, unitholders that were enrolled in the DRIP at the time of its suspension and remain enrolled at the time of its reinstatement will automatically resume participation in the DRIP.
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, focused on Ontario, Quebec and Atlantic Canada. Plaza's portfolio at June 30, 2018 includes interests in 286 properties totaling approximately 8.1 million square feet across Canada and additional lands held for development. Plaza's properties include a mix of strip plazas, stand-alone small box retail outlets and enclosed shopping centres, anchored by approximately 90% national tenants.
For more information, please visit www.plaza.ca.
SOURCE Plaza Retail REIT
For further information: Floriana Cipollone, Chief Financial Officer, Plaza Retail REIT, Tel: 416.848.4583; Kim Sharpe, Director of Business Development, Plaza Retail REIT, Tel: 506.476.4855