Boardwalk Real Estate Investment Trust T.BEI.UN

Buyback

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So they're going to do a buyback of units with the stock hitting highs. Too bad they didn't do this sooner. A buyback will boost AFFO/unit. Meanwhile the dividend remains unchanged. Will they hike it after the buyback is complete?

>>>The Trust continues to be active in sourcing opportunistic accretive acquisitions in its core and target markets. The Trust believes currently that its own high-quality portfolio represents an excellent opportunity to recycle sale proceeds as an accretive use of capital derived from non-core asset dispositions. The purchase and cancellation of its trust units offers an accretive use of its capital and enhances the value of trust units held by remaining unitholders. As a result, Boardwalk intends to apply to the TSX to commence a Normal Course Issuer Bid to purchase and cancel trust units, subject to the approval and applicable rules of the TSX.