Primaris Retail REIT

Primaris Retail REIT

December 07, 2007 14:45 ET

Primaris Retail REIT Announces 3.4% Increase in Monthly Distribution

TORONTO, ONTARIO--(Marketwire - Dec. 7, 2007) - Primaris Retail REIT (TSX:PMZ.UN) announces today its December 2007 monthly distribution in the amount of $0.1016. Payment will be made on January 15, 2008 to holders of record as of December 31, 2007. This new distribution represents $1.22 on an annualized basis, a 3.4% increase over distributions declared in 2007.

In addition, unitholders who elect to participate in the DRIP will receive a further distribution, payable in units, equal in value to 3% of each cash distribution reinvested by them. The price at which units will be purchased with such cash distributions is based on a weighted average trading price of units for the 20 trading days prior to the relevant distribution date, which is normally the 15th of each month. Those unitholders wishing to enroll in the DRIP should contact the brokerage house or financial institution where their units are currently held and complete the required authorization form.

Primaris Retail REIT owns 26 properties comprising approximately 9.3 million square feet located in Canada. Primaris Retail REIT is a TSX listed real estate investment trust (TSX:PMZ.UN). As of November 30, 2007 the REIT had 61,922,526 units issued and outstanding.

Contact Information

  • Primaris Retail REIT
    R. Michael Latimer
    Chief Executive Officer
    (416) 865-5353
    Primaris Retail REIT
    Louis M. Forbes
    Senior Vice President and Chief Financial Officer
    (416) 865-5360