TORONTO, ONTARIO--(Marketwired - Aug. 20, 2014) - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that a distribution of $0.0333 per unit, payable on September 15, 2014, has been declared to the holders of record as at the close of business August 29, 2014.
InnVest also announced today that it has amended its distribution reinvestment plan ("DRIP") to provide it discretion to purchase Units on the open market or to be issued from treasury. If InnVest elects to issue Units from treasury, unitholders who elect to participate in the DRIP will receive 3% bonus units in addition to any Units issued to them under the DRIP. The amendments to the DRIP will be effective commencing with the distribution to be made by InnVest in September 2014 to unitholders of record on August 29, 2014.
Unitholders are encouraged to contact their broker or other intermediary for enrollment information. The DRIP is subject to certain limitations and restrictions and interested parties are encouraged to review the full text of the DRIP. The DRIP will be available on InnVest's website at www.innvestreit.com.
InnVest is an unincorporated open-ended real estate investment trust which owns a portfolio of 115 hotels across Canada representing over 14,000 guest rooms operated under internationally recognized brands. InnVest also holds a 50% interest in Choice Hotels Canada Inc., one of the largest franchisors of hotels in Canada.
InnVest's units and convertible debentures trade on the Toronto Stock Exchange (the "TSX") under the symbols INN.UN, INN.DB.D, INN.DB.E, INN.DB.F and INN.DB.G.