MHProNews has learned from marketwatch that Canadian Apartment Properties Real Estate Investment Trust (CAPREIT), owner of manufactured home communities, announces that its Board of Directors has approved a 3.4 percent increase in annualized cash distributions. Effective with the May 2015 distribution, $1.22 per unit ($0.0107 monthly) will be paid on June 15, 2015 to unitholders of record as of May 29, 2015.

Thomas Schwartz, President and CEO, said, “We are very pleased to announce our twelfth increase in cash distributions to Unitholders, a reflection of our highly positive future outlook and our commitment to enhancing Unitholder value over the long term.“

CAPREIT has interest in 30 manufactured home communities (MHCs) comprised of 6,285 homesites in addition to apartments and townhomes in Canada. ##

(Photo credit: North Grant Park manufactured home community–Antigonish, Nova Scotia)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.