FREDERICTON, NB, Nov. 19 /CNW/ - Plazacorp Retail Properties Ltd. (PLZ:TSX Venture) announced today that its Board of Directors have approved a 4% increase of their annual dividend payment from 18.5 cents to 19.25 cents per common share for 2010.
"This represents the seventh consecutive annual increase in the Plazacorp dividend. This track record of dividend increases is a strong confirmation of Plazacorp's ability to continue to grow its cash flow per share and build a portfolio of stable high quality retail properties. We are very pleased to be able to reward our shareholders in this more challenging business environment with a dividend increase.", said Plazacorp President and CEO, Michael Zakuta.
This new policy will be effective for the regularly scheduled dividend payment dates for 2010 that are expected to be February 15th, May 17th, August 16th and November 15th in the amount of 4.8125 cents per common share at each payment date, subject to board approval at that time.
Plazacorp Retail Properties Ltd. is an owner of shopping malls and strip plazas throughout Atlantic Canada, Quebec and Ontario. Plazacorp, as at November 19, 2009, owns interests in 98 properties comprising 4.4 million square feet of retail real estate.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
SOURCE Plaza Retail REIT
For further information: For further information: on Plazacorp, visit our website at www.plaza.ca or contact: Earl Brewer, Chairman or Kim Sharpe, Director of Business Development, (506) 451-1826