TORONTO, May 17, 2016 /CNW/ - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that a distribution of $0.0333 per unit, payable on June 15, 2016, has been declared to the holders of record as at the close of business May 31, 2016.
Effective immediately, InnVest's unitholder distribution reinvestment plan (the "DRIP") has been terminated. As a result, the DRIP will not be available in connection with the distribution that is payable on June 15, 2016, or any subsequent monthly distributions. Unitholders, including those who had previously participated in the DRIP, will continue to be entitled to monthly cash distributions as and when declared by the board of trustees of InnVest.
InnVest Real Estate Investment Trust is an unincorporated open-ended real estate investment trust which owns a portfolio of 109 hotels across Canada representing over 14,500 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada.
InnVest's units and convertible debentures trade on the Toronto Stock Exchange (the "TSX") under the symbols INN.UN, INN.DB.E, INN.DB.F and INN.DB.G.
SOURCE InnVest Real Estate Investment Trust
For further information: Chantal Nappert, Vice President Finance and Investor Relations, Tel: (416) 607-2331, Website: www.innvestreit.com