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DRI Healthcare Trust Declares Unit Distribution and Provides Update on Normal Course Issuer Bid
DRI Healthcare Trust Declares Unit Distribution and Provides Update on Normal Course Issuer Bid ...
About this update from Dri Healthcare Trust
[{"type":"text","content":"\n \n \n \n DRI Healthcare Trust Declares Unit Distribution and Provides Update on Normal Course Issuer Bid\n \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 Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 21, 2022\n \n \n /CNW/ - DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (\"DRI\" or \"the Trust\") today announced that, in accordance with the requirement for the Trust to distribute all of its taxable income for the year, the Board of Trustees has declared a special unit distribution of\n \n US$0.1655\n \n per unit, which will be made payable to unitholders of record at the close of business on\n \n December 31, 2022\n \n and paid to such unitholders on\n \n January 20, 2023\n \n .\n \n \n Immediately after the issuance of such units in satisfaction of the special unit distribution, the number of outstanding units of the Trust will be consolidated such that the total number of units outstanding will not change, and each unitholder will hold the same number of units following such distribution as were held immediately prior. Each unitholder of record on\n \n December 31, 2022\n \n will be entitled to add the amount of the special unit distribution to their adjusted cost base of units of the Trust. This unit distribution is in addition to the quarterly cash distribution of\n \n $0.075\n \n per unit to unitholders of record on\n \n December 31, 2022\n \n , that was previously declared and announced on\n \n November 7, 2022\n \n .\n \n \n The Trust also provided an update on its normal course issuer bid (\"NCIB\"). Between\n \n November 7, 2022\n \n , the date the NCIB was announced, and\n \n December 21, 2022\n \n , the Trust acquired a total of 910,460 trust units for an aggregate purchase price of\n \n US$4.8 million\n \n .\n \n \n The Trust has determined that quarterly distributions and the opportunistic use of the NCIB, which totalled\n \n US$18.8 million\n \n combined in 2022, has been an effective and efficient method to return cash to its unitholders over that period while balancing the capital needs of the Trust to fund its growth ...