TORONTO, Dec. 16,
2024 /CNW/ - First Capital REIT ("First Capital" or
"the REIT") (TSX: FCR.UN) announced today that the REIT's Board of
Trustees has approved a 3.0% distribution increase. The increase
will be effective for the January distribution to unitholders of
record as of January 31, 2025 and
paid on February 18, 2025. The
annualized distribution, which is paid monthly, will increase to
$0.89 per REIT unit.
"At our February 2024 Investor
Day, we reviewed the key objectives that our strategy is designed
to deliver," said Adam Paul,
President and Chief Executive Officer. "These objectives include
stability and growth in FFO, NAV, and distributions, all on a per
unit basis." Mr. Paul continued, "The strong fundamentals for
grocery anchored retail properties, together with the successful
execution of our strategy, continue to deliver solid operating and
financial results. Accordingly, we are pleased to announce an
increase to our monthly distribution for 2025."
December 2024
Distribution
First Capital will make a cash distribution of $0.072 per REIT unit for the month of December,
representing $0.864 per REIT unit on
an annualized basis. The distribution will be paid on January 15, 2025 to unitholders of record as at
December 31, 2024.
About First Capital REIT (TSX: FCR.UN)
First Capital owns, operates and develops grocery-anchored,
open-air centres in neighbourhoods with the strongest demographics
in Canada.
www.fcr.ca
(TSX: FCR.UN)
SOURCE First Capital Real Estate Investment Trust