RioCan Real Estate Investment Trust
TSX : REI.UN

RioCan Real Estate Investment Trust

September 17, 2007 14:11 ET

RioCan Real Estate Investment Trust Announces September 2007 Distribution and Distribution Increase

TORONTO, ONTARIO--(Marketwire - Sept. 17, 2007) - RioCan Real Estate Investment Trust ("RioCan")(TSX:REI.UN) today announced a distribution of 11 cents per unit for the month of September. The distribution will be payable on October 5, 2007 to unitholders of record as at September 30, 2007.

RioCan today also announced that it will increase its monthly distribution to unitholders to 11.25 cents per unit commencing with the October 2007 distribution, payable in November 2007. This increase of 3 cents per unit on an annualized basis will increase RioCan's annualized distribution to $1.35 per unit.

Edward Sonshine, Q.C. President and Chief Executive Officer of RioCan, said, "RioCan's continued strength, reliability and growth of our cash flow gives us the confidence to increase our monthly distribution. We are proud to have increased our distributions each and every year since RioCan's inception almost 14 years ago."

About RioCan

RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.8 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 207 retail properties, including 10 under development, containing an aggregate of over 53 million square feet. For further information, please refer to RioCan's website at www.riocan.com.

Contact Information

  • RioCan Real Estate Investment Trust
    Edward Sonshine, Q.C.
    President & CEO
    (416) 866-3018
    Website: www.riocan.com