Plazacorp announces annual dividend increase for 2009
Nov 17, 2008
FREDERICTON, Nov. 17 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ:TSX Venture) announced today that its Board of Directors have approved an increase of their annual dividend payment from 17.5 cents to 18.5 cents per common share for 2009. This represents the sixth consecutive annual increase in the Plazacorp dividend. The average rate of increase of Plazacorp's dividend over the last 5 years has been 17% per annum and will be 15% per annum for 6 years following this latest increase. This track record of dividend increases is a strong confirmation of Plazacorp's value-added capabilities and its ability to continue to build a portfolio of stable high quality retail properties. This new policy will be effective for the regularly scheduled dividend payment dates for 2009 that are expected to be February 16th, May 15th, August 17th and November 16th in the amount of 4.625 cents per common share at each payment date, subject to board approval at that time. Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip plazas throughout Atlantic Canada, Quebec and Ontario. Plazacorp, as at November 17, 2008 owns interests in 92 properties comprising 4.3 million square feet of retail real estate. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. %SEDAR: 00012014E
For further information:
For further information: on Plazacorp, visit our website at www.plaza.ca; Or contact: Earl Brewer, Chairman, (506) 451-1826; Kim Sharpe, Director of Business Development, (506) 451-1826