Business
Firm Capital Property Trust announces second distribution increase in less than one year with an 8.1% increase
TORONTO , Oct. 20, 2014 /CNW/ - Firm Capital Property Trust (TSXV: FCD.UN) (" FCPT " or t...
About this update from Firm Capital Property Trust
[{"type":"text","content":"\n\nTORONTO, Oct. 20, 2014 /CNW/ - Firm Capital Property Trust (TSXV: FCD.UN) (\"FCPT\" or the \"Trust\") announced today that its Board of Trustees has approved its second distribution increase in less than one year with an 8.1% increase in its monthly distributions to $0.033333 per unit from $0.030833 per unit.  On an annualized basis this equates to anticipated distributions of $0.40 per unit up from $0.37 per unit.\n\nIncluding today's announced distribution increase, the total increase in distribution's since the Trust's inception is 14.3%.\n\nThe Board of Trustees have also declared and approved distributions in the amount of $0.033333 per Trust unit payable on or about November 14, 2014, December 15, 2014 and January 15, 2015 to unitholders of record on October 31, 2014, November 28, 2014 and December 31, 2014 respectively.\n\nThe increase in the Trust's monthly distributions is a result of FCPT's improved financial performance and the recent growth of its real estate portfolio. \n\nThe policy of FCPT is to pay cash distributions on or about the 15th day of each month to Unitholders of record on the last business day of the preceding month. Distributions paid to Unitholders who are non-residents of Canada will be subject to Canadian withholding tax.\n\nDISTRIBUTION REINVESTMENT PLAN & UNIT PURCHASE PLANThe Trust has in place a Distribution Reinvestment Plan (\"DRIP\") and Unit Purchase Plan (the \"Plan\"). Under the terms of the DRIP, FCPT's Unitholders may elect to automatically reinvest all or a portion of their regular monthly distributions in additional Units, without incurring brokerage fees or commissions. Under the terms of the Plan, FCPT's Unitholders may purchase a minimum of $1,000 of Units per month and maximum purchases of up to $12,000 per annum. Management and trustees have not participated in the DRIP or Plan to date and own approximately 10% of the issued and outstanding trust units of the Trust.\n\nABOUT FIRM CAPITAL PROPERTY TRUST\n\nFirm Capital Property Trust is focused on creating long-term value for Unitholders, through capital preservation and disciplined investing to achieve stable distributable income. In partnership with management and industry leaders, The Trust plan is to co-own a diversified property portfolio of multi-residential, flex industrial, net lease convenience retail, and co...