Melcor Real Estate Investment Trust 5 1 Convertible Unsecured Subordinated Debentures T.MR.DB.B

RE:RE:RE:Distribution Increase now = 8.25% Yield, Buybacks

[Shirtlessnomore]

Retired, do you know when the blackout period is over? Is it about a week after the fins are released, roughly march 11th ish? Cheers!

RetiredCEO wrote: Yes. Can't wait for the buybacks. I've had orders in between 5-5.10 everyday. They fill slowly. Just not enough selling pressure. 8% yield, Alberta restrictions easing, earnings coming soon and expected buybacks. Should climb to $6-$7 this year pretty easily with any buying demand increase. Get paid some big payouts while we wait. We already know cash flow has improved by the distribution increase.

Shirtlessnomore wrote: Indeed, its the sleeper REIT, I finally got filled at 5.05 today, that will be a nice addition to next payday! If any of those bids this morning were yours retired I'm sure your happy with your brand new shares. Cheers! Gl and have a great weekend.

RetiredCEO wrote:

- Around 8.25% Yield at $5.09/unit. NAV ~$9.15
- Buybacks starting "should" be announced on earnings date. Very strange paragraph they put in the press release. They haven't talked about buybacks since they stopped them in Q2 2020. Around 3200 units/day can be purchased. Melcor Traded ~7300 Units today. Increasing buying demand by 50% will be pretty big, especially as others flow into the REIT to ride the buyback wave.
- ACFO has improved enough to increase the distribution. A terrible use of money if they do not intend to do buybacks. I would much rather they spent that cash solely on Buybacks, but I'm sure not everyone feels that way, and others want/need the income. They have saved a lot of money over there last year with FFO below 50%. Now that ACFO is improving through what I expect are less bad debts, CERS now improving landlord collections, and less defferals, buybacks and distribution increases make sense.
- Oil is up and steady. Very good for the Alberta Economy. The upcoming reopening is expected to propel this further
- COVID cases falling fast in Alberta
- Certainty of Vaccines in 2021 will press boards to spend the cash while units or shares of companies beaten down remain undervalued.

"The Board reviewed the reinstatement of the Normal Course Issuer Bid; however, have determined that the decision will have to await the completion of the regularly scheduled year-end trading blackout. The Board will review their decision when the Automatic Share Purchase Plan can be reactivated."


 

Melcor Real Estate Investment Trust (TSX: MR.UN) announces that the REIT’s Board of Trustees met to confirm Q1-2021 distributions and several other matters.

Ralph Young, Chair of the Board commented: “I am pleased to report to unitholders, on behalf of the Board, that business conditions, financial results and our outlook for 2021 have precipitated a 17% increase to our distributions for the first quarter of 2021. In addition, we have reviewed and considered other measures that were undertaken in order to preserve cash at the beginning of the COVID pandemic.

• The Board approved Q1 distributions of $0.035 per unit for each of the first three months of 2021. This represents a 17% increase over distributions for the previous three quarters. Distribution decisions will be made quarterly based on conditions at that time.

 

The distributions will be payable as follows:

Month	Record Date	Distribution Date	Distribution Amount
January 2021	January 29, 2021	February 16, 2021	0.035 per unit
February 2021	February 26, 2021	March 15, 2021	0.035 per unit
March 2021	March 31, 2021	April 15, 2021	0.035 per unit

• The Board reviewed the reinstatement of the Normal Course Issuer Bid; however, have determined that the decision will have to await the completion of the regularly scheduled year-end trading blackout. The Board will review their decision when the Automatic Share Purchase Plan can be reactivated.
   

• The Board has also formally established an Independent Committee to examine and recommend regular renewals and/or amendments to agreements between Melcor Developments Ltd. and the REIT and other matters as directed by the Board. The Independent Committee will be chaired by independent and Lead Trustee Larry Pollock.

The Board of Trustees remains committed to preserving and enhancing value for all Unitholders.

Q4/Fiscal Year 2020 Conference Call Earnings Announcement & Conference Call.

Melcor REIT also announces that results for Q4/FY-2020 will be released on March 4, 2021 after market close. Management will host a conference call at 11:00 am ET (9:00 am MT) on Friday, March 5, 2021.

Toronto & Area: 1-416-915-3239
Toll Free: 1-800-319-4610

Webcast & Replay

The call will also be webcast (listen only) at https://www.gowebcasting.com/11057. A replay of the call will be available at the same URL shortly after the call is concluded.

About Melcor REIT

Melcor REIT is an unincorporated, open-ended real estate investment trust. Melcor REIT owns, acquires, manages and leases quality retail, office and industrial income-generating properties in Western Canada. Its portfolio is currently made up of interests in 39 properties representing approximately 3.21 million square feet of gross leasable area located across Alberta and in Regina, Saskatchewan and Kelowna, British Columbia. For more information, please visit www.melcorREIT.ca.