Cromwell E-Reit issues 1.3m new units under distribution reinvestment plan
CROMWELL European Reit issued some 1.3 million new units at an issue price of 2.2409 euros per unit last Thursday (Mar 31), bringing up the number of issued units to 562.4 million.
Announcing this in a bourse filing on Monday (Apr 4), the real estate investment trust's (Reit) manager said the new units were issued under a distribution reinvestment plan in respect of its distribution of 0.08459 euro per unit for the second half of last year.
A distribution reinvestment plan is a programme that lets investors reinvest their cash dividends into additional shares or fractional shares of the stock on the dividend payment date.
The new units rank pari passu in all respects with the existing units, the Reit manager added.
Units of Cromwell European Reit closed down 1.3 per cent or 0.03 euro at 2.28 euros on Monday.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Reits & Property
MPACT posts 1.8% higher Q4 DPU of S$0.0229
CapitaLand China Trust posts 7.7% drop in Q1 NPI to 313.1 million yuan
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
CapitaLand Ascott Trust’s Q1 gross profit rises 15%
Keppel Reit Q1 net property income rises 7.2% to S$48.2 million
ESR-Logos Reit posts 10.8% drop in Q1 NPI after divesting non-core assets