H&R increases distributions for the 9th consecutive quarter
June 22 2012 - 11:56PM
PR Newswire (Canada)
TORONTO, June 25, 2012 /CNW/ - H&R Real Estate Investment Trust
and H&R Finance Trust ("H&R") today announced that the
Trustees have declared distributions as follows:
_____________________________________________________________________
| |Distribution/Stapled|Annualized|Record date|Distribution | | |
Unit | | | date |
|___________|____________________|__________|___________|_____________|
|July 2012 | $0.10000 | $1.20 | July 17, |July 31, 2012| | | | |
2012 | |
|___________|____________________|__________|___________|_____________|
|August 2012| $0.10000 | $1.20 |August 17, | August 31, | | | | |
2012 | 2012 |
|___________|____________________|__________|___________|_____________|
|September | $0.10000 | $1.20 | September |September 28,| |2012 | |
| 14, 2012 | 2012 |
|___________|____________________|__________|___________|_____________|
These distributions are 4.3% higher than the previous quarter's
distributions and 20% higher than the respective period last year.
About H&R REIT and H&R Finance Trust H&R REIT is an
open-ended real estate investment trust, which owns a North
American portfolio of 41 office, 118 industrial and 133 retail
properties comprising over 44 million square feet and 3 development
projects, with a fair value of approximately $9.7 billion. The
foundation of H&R REIT's success since inception in 1996 has
been a disciplined strategy that leads to consistent and profitable
growth. H&R REIT leases its properties long term to
creditworthy tenants and strives to match those leases with
primarily long-term, fixed-rate financing. H&R Finance Trust is
an unincorporated investment trust, which primarily invests in
notes issued by a U.S. corporation which is a subsidiary of H&R
REIT. The current note receivable is U.S. $151.2
million. In 2008, H&R REIT completed an internal
reorganization which resulted in each issued and outstanding
H&R REIT unit trading together with a unit of H&R Finance
Trust as a "Stapled Unit" on the Toronto Stock Exchange.
Forward-looking Statements Certain statements in this news release
contain forward-looking information within the meaning of
applicable securities laws (also known as forward-looking
statements). Such forward-looking statements reflect
H&R's current beliefs and are based on information currently
available to management. These statements are not guarantees of
future performance and are based on H&R's estimates and
assumptions that are subject to risks and uncertainties, including
those discussed in H&R's materials filed with the Canadian
securities regulatory authorities from time to time, which could
cause the actual results and performance of H&R to differ
materially from the forward-looking statements contained in this
news release. Those risks and uncertainties include, among other
things, risks related to: prices and market value of securities of
H&R; availability of cash for distributions; development and
financing relating to the Bow development; restrictions pursuant to
the terms of indebtedness; liquidity; credit risk and tenant
concentration; interest rate and other debt related risk; tax risk;
ability to access capital markets; dilution; lease rollover risk;
construction risks; currency risk; unitholder liability;
co-ownership interest in properties; competition for real property
investments; environmental matters; reliance on one corporation for
management of substantially all of the REIT's properties and
changes in legislation and indebtedness of H&R. Material
factors or assumptions that were applied in drawing a conclusion or
making an estimate set out in the forward-looking statements
include that the general economy is stable; local real estate
conditions are stable; interest rates are relatively stable; and
equity and debt markets continue to provide access to capital.
H&R cautions that this list of factors is not exhaustive.
Although the forward-looking statements contained in this news
release are based upon what H&R believes are reasonable
assumptions, there can be no assurance that actual results will be
consistent with these forward-looking statements. All
forward-looking statements in this news release are qualified by
these cautionary statements. These forward-looking statements are
made as of today and H&R, except as required by applicable law,
assumes no obligation to update or revise them to reflect new
information or the occurrence of future events or circumstances.
H&R Real Estate Investment Trust CONTACT: Larry
Froom,Chief Financial Officer, H&R REIT(416) 635-7520, or
e-mail info@hr-reit.com
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