TORONTO, Aug. 16, 2021 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX – CAR.UN) announced today its August 2021 monthly distribution in the amount of $0.12083 per Unit (or $1.45 on an annualized basis). The August distribution will be payable on September 15, 2021 to Unitholders of record on August 31, 2021.
“We were pleased to announce a 5% increase in monthly cash distributions last week, a reflection of our strong performance through the pandemic, our confidence in the future, and our commitment to enhancing long-term Unitholder value,” Mark Kenney, President and CEO stated.
As usual, to encourage participation and reward our loyal Unitholders, investors registered in our Distribution Reinvestment Plan will continue to receive an additional amount equal to 5% of their distributions paid in the form of additional Units.
CAPREIT is Canada’s largest publicly-traded provider of quality rental housing. CAPREIT currently owns or has interests in, and manages, approximately 69,600 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada, in the Netherlands and Ireland. CAPREIT has approximately $18 billion of assets under management globally. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 103%. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.caprent.com or www.capreit.net, and our public disclosure which can be found under our profile at www.sedar.com.