MONTREAL, April 21, 2015 /CNW Telbec/ – (TSXV: NEL.UN) The Nobel Real Estate Investment Trust (the « REIT » or « Nobel REIT ») is pleased to announce today a cash distribution of $0.001716 per trust unit of the REIT for the month of April 2015. The distribution will be payable on May 15, 2015 to unitholders of record as at April 30, 2015.
“Following the previously announced adjustment to our distribution policy, we are happy to announce that the monthly distribution per unit is increasing by 79% compared to the previous month; considering the current unit price, the annual yield per unit goes from 1.77% to 3.17%. The decision to establish a sustainable distribution policy, which is part of our growth strategy established at the end of 2013, was the right one, and we are confident that we will be able to continue increasing progressively our distribution.” stated Jean Teasdale, President and Chief Executive of Nobel REIT.
About Nobel REIT
Nobel REIT is an unincorporated open-ended real estate investment trust governed by the laws of the Province of QuÃ©bec. Nobel REIT has been created for the purpose of acquiring and owning income producing properties. The REIT will focus on acquiring commercial retail, mixed-used retail, and industrial and suburban office properties in the primary and secondary markets in the Province of QuÃ©bec. Nobel REIT currently owns eight properties located in QuÃ©bec, comprising 395,970 square feet of gross leasable area.
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SOURCE Nobel Real Estate Investment Trust