TORONTO, March 21, 2016 /CNW/ - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that a distribution of $0.0333 per unit, payable on April 15, 2016, has been declared to the holders of record as at the close of business March 31, 2016.
InnVest offers a distribution reinvestment plan ("DRIP"). The DRIP provides eligible unitholders with the opportunity to reinvest their cash distributions, on each distribution payment date, in additional Units. The DRIP provides InnVest discretion to purchase Units on the open market or to be issued from treasury. If InnVest elects to issue Units from treasury, unitholders who elect to participate in the DRIP will receive 3% bonus units in addition to any Units issued to them under the DRIP.
InnVest Real Estate Investment Trust is an unincorporated open-ended real estate investment trust which owns a portfolio of 110 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: Denise Achonu, Vice President, Finance, Tel: (416) 607 2333, Website: www.innvestreit.com