Cash distributions are paid on the 15th of the month (or the next business day) for the preceding month to unitholders of record on the last business day of the preceding month. If necessary an extra distribution will be declared on December 31 each year such that the REIT will not be liable for tax that year.

Effective August 20, 2010 the REIT has adopted a Distribution Reinvestment Plan (“DRIP”), pursuant to which unitholders will be entitled to elect to have all cash distributions of the REIT automatically reinvested in additional units at a price per unit calculated by reference to the weighted average of the trading price for the units on the TSX for the five trading days immediately preceding the relevant distribution date. Unitholders who so elect will receive a further distribution of Units equal to 3% of each distribution that was reinvested by them.

 

No brokerage commissions will be payable with the purchase of units under the distribution reinvestment plan and all administrative costs are borne by the REIT.

 

Only Canadian residents are eligible to participate in the distribution reinvestment plan.