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True North Commercial REIT T.TNT.UN

Alternate Symbol(s):  TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable, and tax-efficient monthly cash distribution as well as long-term appreciation in the value of its units through the effective management of a portfolio of commercial properties. The REIT owns and operates a portfolio of about 40 properties consisting of approximately 4.6 million square feet in urban and select strategic secondary markets across Canada focusing on long-term leases with government and credit-rated tenants. Its properties include 36 and 38 Solutions Drive, 500 Beaverbrook Court, 61 Bill Leathem Drive, 675 Cochrane Drive, and 1112 Fort Street, among others.


TSX:TNT.UN - Post by User

True North Commercial REIT > Distribution cut
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Comment by Holden22on Aug 08, 2024 10:43am
115 Views
Post# 36169418

RE:RE:RE:Distribution cut

RE:RE:RE:Distribution cutThe last full year of regular dividends was 2022 and $48.6 m was paid in common dividends. Under the 2023 NCIB $10.5 m was spent on share buy backs. The Q2 2024 figures suggest the YTD share purchases under the 2024 NCIB was $3.2 m. $13.7 m/$48.6 m = 29%, note these NCIB purchases span 14 months, the 2022 dividend payments span 12 months. 
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