/C O R R E C T I O N from source -- BTB Real Estate Investment Trust/
In the news release, BTB announces its distribution for the month of April 2016, issued 15-Apr-2016 by BTB Real Estate Investment Trust over CNW, we are advised by the company that in the first paragraph, the date at the end of the last sentence, should read "April 29" rather than "March 31" as originally issued inadvertently. The complete, corrected release follows:
BTB announces its distribution for the month of April 2016
Montréal, April 15, 2016 /CNW Telbec/ - BTB Real Estate Investment Trust (TSX: BTB.UN) announced today that the monthly cash distribution for the month of April 2016 is $0.035 per unit, representing $0.42 per unit on an annualized basis. The cash distribution will be paid on May 16, 2016 to unitholders of record on April 29, 2016.
BTB is a real estate investment trust listed on the Toronto Stock Exchange. BTB is an important owner of properties in eastern Canada. Today, BTB owns 72 commercial, office and industrial properties for a total leasable area of more than 5 million square feet. BTB's asset value is approximately $630M. The objectives of BTB are: i) to grow its revenues from its assets to increase distributable income and therefore fund distributions; (ii) to maximize the value of its assets through dynamic management of its properties in order to sustain the long-term value of its units; and (iii) to generate cash distributions that are fiscally beneficial to unitholders.
BTB offers a distribution reinvestment plan to unitholders whereby the participants may elect to have their monthly cash distribution reinvested in additional units of BTB at a price based on the weighted average price for BTB's Units on the Toronto Stock Exchange for the five trading days immediately preceding the distribution date, discounted by 3%.
SOURCE BTB Real Estate Investment Trust