Melcor REIT Declares January, February and March Distributions
/EINPresswire.com/ -- EDMONTON, AB--(Marketwired - January 15, 2016) - Melcor Real Estate Investment Trust (TSX: MR.UN) today announced that the Trustees of the REIT have declared cash distributions of $0.05625 per unit for the months of January, February and March 2016.
The October, November and December distributions will be payable as follows:
Month Record Date Distribution Date Distribution Amount ---------------------------------------------------------------------------- January 2016 January 29, 2016 February 16, 2016 $0.05625 per unit ---------------------------------------------------------------------------- February 2016 February 29, 2016 March 15, 2016 $0.05625 per unit ---------------------------------------------------------------------------- March 2016 March 31, 2016 April 15, 2016 $0.05625 per unit ----------------------------------------------------------------------------
Darin Rayburn, Chief Executive Officer of the REIT commented:
"Through a combination of our proactive leasing and renewal programs, and our local knowledge and experience in the markets where we operate, we increased occupancy to 93.6% at the end of 2015, up 1.1% over the third quarter. The consistent performance of our portfolio and a continuing improvement in our payout ratio are strong indicators of the sustainability of our distributions. We are maintaining our distribution at $0.05625 per unit for the first quarter as we believe this provides a healthy balance between returning income to unitholders and maintaining a strong balance sheet."
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 with exposure to high growth Canadian markets. Its portfolio is currently made up of interests in 38 properties representing approximately 2.77 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.
Business Contact
Darin Rayburn
Chief Executive Officer
Tel: 780.423.6931
Email contact
Investor Relations
Jonathan Chia, CA
Chief Financial Officer
Tel: 1.855.673.6930
Email contact
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