MONTREAL, July 15, 2013 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of July 2013 is $0.0333 per unit, representing $0.40 per unit on an annualized basis. The cash distribution will be paid on August 15, 2013 to unitholders of record on July 31, 2013.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. BTB owns 66 commercial, office and industrial properties for a total of more than 4.5 million square feet. BTB's asset value is approximately $525M. The objectives of BTB are: i) to grow its revenues from its assets to increase distributable income and therefore fund distributions; (ii) to maximize the value of its assets through dynamic management of its properties in order to sustain the long-term value of its units; and (iii) to generate cash distributions that are fiscally beneficial to unitholders.
BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB's Units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 5%.
SOURCE BTB Real Estate Investment Trust