TORONTO, CANADA--(Marketwire - July 19, 2012) - InnVest Real Estate Investment Trust ("InnVest") (TSX:INN.UN) announced today that a distribution of $0.0333 per unit, payable on August 15, 2012, has been declared to the holders of record as at the close of business July 31, 2012.
InnVest also announced the reinstatement of its Distribution Reinvestment Plan ("DRIP") effective with the July cash distribution, payable August 15, 2012. The DRIP, which has been suspended since August 2011, provides eligible unitholders with the opportunity to reinvest their monthly cash distributions toward the purchase of new units of InnVest.
Unitholders that were participating in the DRIP at the time of its suspension in August 2011 will be automatically re-enrolled and no action is required.
Eligible unitholders that had not previously opted to participate in the DRIP but wish to do so, may elect to participate by contacting their investment advisor to request enrollment. Unitholders must be residents of Canada and hold a minimum of 500 units to be eligible to participate in the DRIP.
Complete details of the DRIP are available on InnVest's website (www.innvestreit.com) or from a unitholder's investment advisor.
InnVest is an unincorporated open-ended real estate investment trust which owns a portfolio of 140 hotels across Canada representing approximately 18,200 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.B, INN.DB.C, INN.DB.D, INN.DB.E and INN.DB.F.