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MONTRÉAL, March 19, 2020 /CNW
Telbec/ - PRO Real Estate Investment Trust ("PROREIT" or the
"REIT") (TSX: PRV.UN) announced today that a cash
distribution of $0.0525 per trust
unit of the REIT ("Units") for the month of March 2020 will be payable on April 15, 2020 to unitholders of record as at
March 31, 2020.
Most unitholders can participate in PROREIT's distribution
reinvestment plan (the "DRIP"). The DRIP provides
unitholders with an opportunity to conveniently and economically
increase their ownership in PROREIT. Under the DRIP, distributions
are automatically reinvested in additional Units without the cost
of any brokerage commissions or service fees. In addition,
unitholders who elect to participate in the DRIP receive a further
distribution of Units equal in value to 3% of each distribution
that was reinvested by the unitholder. Additional deferred units
will be credited to the holders thereof to reflect distributions
paid on Units.
To join the DRIP, beneficial unitholders who hold their Units
through a bank or other intermediary should direct that entity to
take the necessary steps to register them in the DRIP. Unitholders
who hold their Units directly in registered form should complete
the enrollment form and send it to the REIT's transfer agent by
email at TMXEInvestorServices@tmx.com or by mail to TSX Trust
Company, 301 – 100 Adelaide St W Toronto,
Ontario, M5H 4H1 (Attention: Dividend Reinvestment
Department).
The price for any Units issued under the DRIP is calculated by
reference to the weighted average price of the Units for the five
trading days immediately preceding the relevant date of
distribution.
Cash undistributed by PROREIT upon the issuance of additional
Units under the DRIP will be retained by the REIT to be used for
future property acquisitions, capital improvements and working
capital. The DRIP is subject to certain limitations and
restrictions and interested parties are encouraged to review the
full text of the DRIP.
About PROREIT
PROREIT (www.proreit.com) is an unincorporated open-ended real
estate investment trust owning a diversified portfolio of 93
commercial properties across Canada representing over 4.5 million square
feet of gross leasable area. Established in March 2013, PROREIT is mainly focused on strong
primary and secondary markets in Québec, Atlantic Canada and Ontario, with selective exposure in
Western Canada.
SOURCE PROREIT