FREDERICTON, NB, July 2, 2013 /CNW/ - Plazacorp Retail Properties Ltd. ("Plazacorp" or the "Corporation") (TSX: PLZ) announced today that its Board of Directors has declared its quarterly cash dividend of $0.05625 per common share to be paid on August 15, 2013 to all common shareholders of record on July 16, 2013.
The Corporation intends to make an election under subsection 131(1) of the Income Tax Act (Canada) deeming 70% of the dividend ($0.039375 per common share) to be a capital gains dividend, payable out of the Corporation's capital gain dividend account, with the remaining 30% ($0.016875 per common share) to be a regular dividend. This regular dividend is an "eligible dividend" for income tax purposes.
Plazacorp is a mutual fund corporation that is a leading retail property owner and developer, particularly in Eastern Canada. Plazacorp's current portfolio includes interests in 347 properties totaling approximately 6.4 million square feet across Canada and additional lands held for development. Plazacorp's properties include a mix of strip plazas, stand-alone small box retail outlets and enclosed shopping centres, anchored by approximately 90% national tenants.
SOURCE: Plazacorp Retail Properties Ltd.
on Plazacorp, visit our website at www.plaza.ca
or contact: Michael Zakuta, President and Chief Executive Officer, at (514) 457-0997 or Floriana Cipollone, Chief Financial Officer, at (416) 848-4583