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H&R Announces Suspension of Distribution Reinvestment Plan
H&R Announces Suspension of Distribution Reinvestment Plan H&R Announces S...
About this update from H&r Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\nH&R Announces Suspension of Distribution Reinvestment Plan\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\nH&R Announces Suspension of Distribution Reinvestment Plan\nCanada NewsWire\nTORONTO, Feb. 28, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW./\n\n\n\nTORONTO, Feb. 28, 2018 /CNW/ - H&R Real Estate Investment Trust (\"H&R REIT\" or \"H&R\") and H&R Finance Trust (collectively, the \"Trusts\") (TSX: HR.UN; and HR.DB.D) today announced the suspension of the Trusts' distribution reinvestment plan (the \"DRIP\") and unit purchase plan (the \"Purchase Plan\") until further notice. Commencing with the March 2018 distribution, unitholders who elected to participate in the DRIP will receive the full declared cash distributions on their Stapled Units on the distribution payment date. If H&R elects to reinstate the DRIP in the future, unitholders that were enrolled in the DRIP at the time of its suspension and remain enrolled at the time of its reinstatement will automatically resume participation in the DRIP. Unitholders who elected to participate in the Purchase Plan will not have funds withdrawn for purchases of Stapled Units previously scheduled to be made following the date of this announcement.\n\nH&R is well capitalized and has a strong balance sheet with significant financial flexibility. Accordingly, the trustees of H&R REIT and management wish to assert greater control over when and on what terms H&R raises capital to fund its business. The trustees of H&R REIT and management particularly wish to avoid issuing equity at a price below net asset value per unit, something that can occur from time to time under the DRIP. The suspension of the DRIP is intended to preserve value and eliminate dilution.\n\nAbout H&R REIT\n\nH&R REIT is Canada's largest diversified real estate investment trust with total assets of approximately $14.6 billion at December 31, 2017....