TORONTO, ONTARIO -- (Marketwired) -- 12/09/15 -- Allied Properties REIT (TSX: AP.UN) today announced that its Trustees have approved an increase in monthly cash distributions from $0.1216 per unit ($1.46 per unit annualized) to $0.125 per unit ($1.50 per unit annualized). The increased monthly distribution will commence on January 15, 2016, payable to unitholders of record on December 31, 2015.
"Management and the Trustees support the two-fold objective of raising distributions on an annual basis while simultaneously reducing pay-out ratios," said Michael Emory, President and CEO. "We're confident of our ability to meet this two-fold objective in 2016."
This press release may contain forward-looking statements with respect to Allied, its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. Allied's actual results and performance discussed herein could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulations and the factors described under "Risk Factors" in Allied's Annual Information Form which is available at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to Allied and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release, and Allied has no obligation to update such statements.
Allied Properties REIT is a leading owner, manager and developer of urban office environments that enrich experience and enhance profitability for business tenants operating in Canada's major cities. Its objectives are to provide stable and growing cash distributions to unitholders and to maximize unitholder value through effective management and accretive portfolio growth.
Contacts:
Allied Properties REIT
Michael R. Emory
President and Chief Executive Officer
(416) 977-9002
memory@alliedreit.com
Allied Properties REIT
Cecilia C. Williams
Vice President and Chief Financial Officer
(416) 977-9002
cwilliams@alliedreit.com
