Flagship Communities Real Estate Investment Trust Announces Distribution Increase

About this update from Flagship Communities Real Estate Investment Trust

[{"type":"text","content":"\n \n \n \n Flagship Communities Real Estate Investment Trust Announces Distribution Increase\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n TORONTO\n \n ,\n \n Oct. 22, 2021\n \n /CNW/ - Flagship Communities Real Estate Investment Trust (\"Flagship REIT\" or the \"\n \n REIT\n \n \") (TSX: MHC.U) announced today that its Board of Trustees has approved a 5% increase to its monthly cash distribution to unitholders to\n \n US$0.0446\n \n per REIT unit or\n \n US$0.5355\n \n per REIT unit on an annual basis. The new monthly cash distribution will commence with the expected\n \n November 2021\n \n distribution when declared, to be payable in\n \n December 2021\n \n .\n \n \n \"Our ability to increase cash distributions speaks to Flagship REIT's strong financial and operating performance since completing our initial public offering in\n \n October 2020\n \n ,\" said Kurt Keeney, President and Chief Executive Officer. \"We are the only pure play manufactured housing investment in the Canadian capital markets and we look forward to continuing to offer investors with the opportunity to participate in a niche and stable market with significant upside potential.\"\n \n \n Distributions paid to Canadian unitholders (and other non-U.S. unitholders) generally will be subject to U.S. withholding tax. For a general summary of the taxation of distributions paid to Canadian unitholders, including information regarding U.S. withholding tax, please see the \"Certain Canadian Federal Income Tax Considerations\", \"Certain U.S. Federal Income Tax Considerations\" sections, and \"Risk Factors – Tax-Related Risks\", of the REIT's prospectus dated\n \n September 28, 2020\n \n , a copy of which is available under the REIT's profile on the SEDAR website at\n \n www.sedar.com\n \n . Unitholders should consult their own tax advisors for advice with respect to the tax c...

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