First Reit to introduce scrip dividend scheme for distribution
First Real Estate Investment Trust (First Reit) is establishing a distribution reinvestment plan that will give unitholders the option to receive distributions in new units in lieu of cash.
This will enable unitholders to increase their holdings without incurring additional transactional costs such as brokerage fees, stamp duties and other related costs.
The scheme may be applied from time to time to any distribution declared by First Reit as the manager, Bowsprit Capital Corporation, may determine.
Unitholders may elect to participate in respect of all or part of their unitholdings.