Skip to main content

Allied Announces Special Distribution

Written by Customer Service on . Posted in Dividend Reports And Estimates.

TORONTO, Dec. 15, 2023 (GLOBE NEWSWIRE) — Allied Properties Real Estate Investment Trust (“Allied”)(TSX: “AP.UN”) announced today that the Trustees of Allied have declared a special distribution of $5.48 per unit, comprised of $0.48 per unit payable in cash and $5.00 per unit payable by the issuance of units of Allied to unitholders of record as at December 29, 2023. The special distribution is being made primarily to distribute to unitholders a portion of the capital gain realized by Allied during the 12-month period ending December 31, 2023, from the sale of the UDC portfolio. Accordingly, the special distribution will be in the form of a capital gain for income tax purposes. The cash portion of the special distribution is intended to assist unitholders in funding any additional tax liability that may arise in connection with the special distribution.

The portion of the special distribution payable in units of Allied will be paid at the close of business on December 29, 2023, by the issuance of additional units that have a fair market value equal to the dollar amount of the special distribution payable in units based on the closing price of the units on the TSX on December 29, 2023. Immediately following the special distribution, the outstanding units of Allied will be consolidated such that each unitholder will hold, after the consolidation, the same number of units as held immediately prior to the special distribution. The remaining portion of the special distribution will be paid in cash on January 15, 2024.

The amount of the special distribution payable in units will increase the aggregate adjusted cost base of each unitholders’ consolidated units by such amount. Unitholders not resident in Canada for Canadian federal income tax purposes may be subject to applicable withholding taxes in connection with the payment of the special distribution.

About Allied

Allied is a leading owner-operator of distinctive urban workspace in Canada’s major cities. Allied’s mission is to provide knowledge-based organizations with workspace that is sustainable and conducive to human wellness, creativity, connectivity and diversity. Allied’s vision is to make a continuous contribution to cities and culture that elevates and inspires the humanity in all people.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Cecilia C. Williams
President & Chief Executive Officer
(416) 977-9002
cwilliams@alliedreit.com

Nanthini Mahalingam
Senior Vice President & Chief Financial Officer
(416) 977-9002
nmahalingam@alliedreit.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.