Canadian Real Estate Investment Trust Announces Increased Distribution.TORONTO -- (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :REF.UN) - Canadian Real Estate Investment Trust ("CREIT CREIT Canadian Real Estate Investment Trust ") today announced its July 2004 monthly distribution in the amount of 10.50 cents per unit ($1.26 annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. ). The July distribution will be payable on August 16, 2004 to Unitholders of record July 30, 2004, and reflects an increase of 0.25 cents over the 10.25 cents paid in June ($1.23 annualized). Stephen Johnson, President and Chief Executive Officer of CREIT, said, "The last eighteen months have been outstanding, and this increase demonstrates our confidence in the quality, balance and earning power Earning power Earnings before interest and taxes (EBIT) divided by total assets. earning power 1. The earnings that an asset could produce under optimal conditions. For example, AT&T may currently be earning $2. of CREIT's portfolio." CREIT is a real estate investment trust that is dedicated to building wealth for its Unitholders through reliable monthly cash distributions and long-term value enhancement. CREIT owns a portfolio of more than 115 retail, office and industrial properties. Its disciplined approach manages risk while delivering attractive long-term returns. |
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