Plaza Retail REIT Announces March 2018 Distribution
FREDERICTON, March 20, 2018 /CNW/ - Plaza Retail REIT ("Plaza") (TSX: PLZ.UN) today announced its March 2018 monthly distribution in the amount of $0.02333 per unit ($0.28 annualized). The March distribution will be payable on April 16, 2018 to unitholders of record as at March 29, 2018.
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 portfolio at December 31, 2017 includes interests in 298 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 90% national tenants.
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