Choice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of December, 2019 and Special Non-Cash Distribution

About this update from Choice Properties Real Estate Investment Trust

[{"type":"text","content":"\n\n\n\nChoice Properties Real Estate Investment Trust Declares Cash Distribution for the Month of December, 2019 and Special Non-Cash Distribution\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Dec. 16, 2019\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n TORONTO, Dec. 16, 2019 /CNW/ - Choice Properties Real Estate Investment Trust (\"Choice Properties\" or the \"Trust\") (TSX: CHP.UN) announced today that the trustees of Choice Properties have declared a cash distribution for the month of December 2019 of $0.061667 per trust unit, representing $0.74 per trust unit on an annualized basis, payable on January 15, 2020 to Unitholders of record at the close of business on December 31, 2019.  \n\n \n \n\n \nSpecial Distribution\nChoice Properties further announced today that its trustees have also declared a special non-cash distribution of $0.07 per trust unit, payable on December 31, 2019 to Unitholders of record at the close of business on December 31, 2019 (the \"Special Distribution\"). The combination of the annualized distribution of $0.74 per trust unit together with the Special Distribution of $0.07 per trust unit will represent a total annualized amount of $0.81 per trust unit. The Special Distribution represents a portion of the net realized capital gains of the Trust for the 2019 fiscal year. Accordingly, the Special Distribution will be in the form of a capital gain for Canadian income tax purposes. \nThe Special Distribution is principally being made to distribute to Unitholders a portion of capital gain realized by the Trust upon the closing of its previously announced sale of a 30-property portfolio to a third-party purchaser on September 30, 2019 for an aggregate sale price of approximately $426 million.\nCanadian resident Unitholders will generally be required to include their proportionate share of the Trust's income and net taxable capital gain for the 2019 tax year as allocated and designated by the Trust in computing their respective income for the 2019 tax year.\nThe Sp...

More updates from Choice Properties Real Estate Investment Trust