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ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES SPECIAL DISTRIBUTION OF $2.39 PER TRUST UNIT
ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES SPECIAL DISTRIBUTION OF $2.39 PER TRUST UNIT...
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[{"type":"text","content":"\n \n \n \n ARTIS REAL ESTATE INVESTMENT TRUST ANNOUNCES SPECIAL DISTRIBUTION OF $2.39 PER TRUST UNIT\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 WINNIPEG, MB\n \n ,\n \n Dec. 20, 2021\n \n /CNW/ - Artis Real Estate Investment Trust (\"Artis\" or the \"REIT\") (TSX: AX.UN) announced that its trustees have declared a special distribution of\n \n $2.39\n \n per trust unit (\"Unit\"), which will comprise of\n \n $0.32\n \n per Unit payable in cash and\n \n $2.07\n \n per Unit payable in Units. This special distribution is in addition to the monthly distributions totaling\n \n $0.5927\n \n per unit during 2021. The special distribution will be payable on\n \n December 31, 2021\n \n to unitholders (the \"Unitholders\") of record at the close of business on\n \n December 31, 2021\n \n , with payment of the cash distribution to be made as soon as practicable after the payable date. The special distribution is principally being made to distribute to Unitholders a portion of the capital gain realized by the REIT from transactions completed during the year ended\n \n December 31, 2021\n \n . The cash portion of the special distribution is intended to provide liquidity to Unitholders to cover all or part of any Canadian income tax or non-resident withholding tax obligations that may arise in relation to the special distribution.\n \n \n \n \n \n \n \n \n \n As at the date hereof, there are an aggregate of 124,555,206 Units issued and outstanding.\n \n \n \n Tax Considerations\n \n \n \n Immediately following the issuance of Units pursuant to the special distribution, the outstanding Units of Artis will be consolidated such that each Unitholder will hold, after the consolidation, the same number of Units as such Unitholder held before the special distribution. The amount of the special distribution payable in Units will increase the adjusted cost base of Unitholders' consolidated Units. Canadian resident Unitholders will generally be required to include their proportionate share of the REIT's inco...