TORONTO, Dec. 22, 2021 /CNW/ - DRI Healthcare Trust (TSX:
DHT.UN) (TSX: DHT.U) ("DRI" or "the Trust") today announced that
its Board of Trustees has declared a special cash distribution in
the amount of US$0.22 per trust unit.
The special cash distribution will be made payable to unitholders
of record at the close of business on December 31, 2021 and paid to such unitholders on
January 20, 2022. This special cash
distribution is in addition to the quarterly cash distribution
declared on November 8, 2021 of
US$0.075 per trust unit.
The Trust also announced that, as of December 22, 2021, the Trust has acquired a total
of 1,043,070 trust units, for an aggregate purchase price of
approximately US$5.5 million,
pursuant to its normal course issuer bid announced on September 30, 2021. The total amount of cash that
will have been returned to the Trust's unitholders through the five
declared distributions and the normal course issuer bid will be
approximately US$20.7 million.
In accordance with the requirement for the Trust to distribute
all of its taxable income for the year, the Board of Trustees also
declared a special unit distribution of US$0.0360 per unit, which will be made payable to
unitholders of record at the close of business on December 31, 2021 and paid to such unitholders on
January 20, 2022. Immediately after
the issuance of such units in satisfaction of the special unit
distribution, the number of outstanding units of the Trust will be
consolidated such that the total number of units outstanding will
not change, and each unitholder will hold the same number of units
following such distribution as were held immediately prior. Each
unitholder of record on December 31,
2021 will be entitled to add the amount of the special unit
distribution to their adjusted cost base of units of the
Trust.
About DRI Healthcare Trust
DRI Healthcare Trust provides unitholders with differentiated
exposure to the anticipated growth in the global pharmaceuticals
and biotechnology markets. Our business model is focused on
managing and growing a diversified portfolio of pharmaceutical
royalties with the aim to deliver attractive growth in cash royalty
receipts over the long term. DRI Healthcare Trust is an
unincorporated open-ended trust governed by the laws of the
Province of Ontario, externally
managed by its manager, DRI Capital Inc. DRI Healthcare Trust's
units are listed and trade on the Toronto Stock Exchange in
Canadian dollars under the symbol "DHT.UN" and in U.S. dollars
under the symbol "DHT.U".
SOURCE DRI Healthcare Trust