Killam Apartment REIT has revealed its monthly distribution for September 2023, amounting to $0.05833 per unit. This distribution will be paid on October 16, 2023, to unit holders registered as of September 29, 2023. In addition to the cash distribution, Killam Apartment REIT also offers a Distribution Reinvestment Plan (DRIP), which allows eligible unit holders to reinvest their distributions as additional units.
Under the DRIP, participating unit holders will receive an additional distribution of units equivalent to 3% of the reinvested distribution. This provides an opportunity for investors to effectively increase their portfolios by reinvesting their earnings.
Killam Apartment REIT, headquartered in Halifax, Nova Scotia, is one of Canada’s largest residential real estate investment trusts. It has a portfolio of apartments and manufactured home communities valued at $5 billion.
The REIT’s main strategy focuses on three key priorities. Firstly, Killam aims to increase the earnings from its existing operations. Secondly, the company plans to expand its portfolio and diversify geographically through growth-oriented acquisitions, with a focus on newer properties. Lastly, Killam Apartment REIT seeks to develop high-quality properties in its core markets.
It is important to note that the information provided here has not been approved or disapproved by the Toronto Stock Exchange.
Definitions:
– REIT: Real Estate Investment Trust.
– DRIP: Distribution Reinvestment Plan.
Sources:
– Killam Apartment Real Estate Investment Trust.