NEW GLASGOW, NS, May 22, 2018 /CNW/ – Crombie Real Estate Investment Trust ("Crombie") (TSX: CRR.UN) today announced a distribution of $0.07417 per unit for the period from May 1, 2018, to and including May 31, 2018. The distribution will be payable on June 15, 2018, to unitholders of record as at May 31, 2018.
Crombie has received conditional approval from the Toronto Stock Exchange to amend its Distribution Reinvestment Plan ("DRIP"). Effective today, Crombie has amended the DRIP to eliminate the discount such that any future REIT units issued under the DRIP will be issued at a price equal to 100% of the volume-weighted average trading price of the REIT units on the Toronto Stock Exchange for the five trading days immediately preceding the relevant distribution payment date. Consequently, participants in the DRIP as of the record date of May 31, 2018 will receive REIT units based on the amended pricing, without the prior 3% discount.
REIT unitholders who wish to amend or alter their participation in the DRIP should make arrangements with their broker, dealer, bank or other market participant as soon as possible to ensure that any changes can be processed by May 31, 2018, as their broker, dealer, bank or other market participant may have earlier deadlines.
About Crombie REIT
Crombie Real Estate Investment Trust is an unincorporated, open-ended real estate investment trust established under, and governed by, the laws of the Province of Ontario. Crombie is one of the country's leading national retail property landlords with a strategy to own, operate and develop a portfolio of high quality grocery and drug store anchored shopping centres, freestanding stores and mixed use developments primarily in Canada's top urban and suburban markets.
More information about Crombie can be found at www.crombiereit.ca
SOURCE Crombie REIT
Media Contact, Glenn Hynes, FCPA, FCA, Executive Vice President, Chief Financial Officer and Secretary, 902-755-8100