FREDERICTON, May 19, 2017 /CNW/ – Plaza Retail REIT (“Plaza”) (TSX: PLZ.UN) today announced its May 2017 monthly distribution in the amount of $0.0225 per unit ($0.27 annualized). The May distribution will be payable on June 15, 2017 to unitholders of record as at May 31, 2017.
Under Plaza’s Distribution Reinvestment Plan (“DRIP”) unitholders are able to reinvest distributions in additional units at a 3% discount. Units purchased under the DRIP are not subject to the payment of brokerage commissions. Units will be valued at the weighted average closing price on the previous 5 trading days.
Plaza is an open-ended real estate investment trust and is a leading retail property owner and developer, particularly in Eastern Canada. Plaza’s current portfolio includes interests in 296 properties totaling approximately 7.8 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 91% national tenants.
SOURCE Plaza Retail REIT
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