HALIFAX, May 17 /CNW/ - Killam Properties Inc. ("Killam") (TSX: KMP) is
pleased to announce that its Board of Directors has declared a dividend
pursuant to Killam's monthly dividend policy. The dividend of $0.046668
per common share will be paid on June 15, 2011 to shareholders of
record on May 31, 2011.
On May 10, 2011, the Board of Directors approved a 3.6% increase to
Killam's dividend, increasing the annual dividend from $0.56 per share
to $0.58 per share. The monthly dividend will be $0.04833 per share, up
3.6% from $.046668 per share. The increase will become effective for
the June 2011 dividend, to be paid in July 2011.
Killam offers a Dividend Reinvestment Plan (the "DRIP"). The DRIP
provides eligible shareholders with the opportunity to reinvest their
cash dividends, on each dividend payment date, in additional common
shares. Participating shareholders will also receive an additional
distribution of common shares representing 3% of the amount of the
dividend reinvested pursuant to the Plan.
Killam Properties Inc., based in Halifax, Nova Scotia, is one of
Canada's largest residential landlords, owning and operating
multi-family apartments and manufactured home communities.
Note: The Toronto Stock Exchange has neither approved or disapproved of
the information contained herein.
SOURCE KILLAM PROPERTIES INC.
For further information:
Killam Properties Inc.
Vice President, Investor Relations & Corporate Planning