CALGARY, Dec. 13, 2018 /CNW/ - Middlefield Can-Global REIT
Income Fund (the "Fund") (TSX: RCO.UN) announces a special
distribution will be made to holders of record as at the close of
business on December 31, 2018. The
special distribution is the result of two factors. First, the
Fund's successful performance, with an annualized total return of
10.3% since its inception in November
2012, has been accompanied by realized capital gains.
Second, the Fund's Declaration of Trust requires that all taxable
income be allocated to unitholders prior to the end of its taxation
year.
Subject to a final review of the Fund's 2018 taxable income in
early 2019, it is expected that the special distribution will be
approximately $0.65 per unit but may
change depending on portfolio transactions that may occur before
year end. This special distribution is in addition to the regular
monthly distributions of $0.05416 per
trust unit. The distribution is expected to consist of (i) a cash
distribution estimated to be $0.325
per unit; and (ii) a distribution estimated to be $0.325 per unit that will be automatically
reinvested in additional units to be determined based on the net
asset value per unit as of December 31,
2018. Immediately following the issuance, the units of the
Fund will be automatically consolidated such that the number of
units will remain unchanged from the number outstanding immediately
prior to the special distribution. The payment date for the cash
distribution will be January 15,
2019.
Unitholders are reminded they may elect to automatically
reinvest cash distributions made by the Fund in additional units
through participation in the Fund's Distribution Reinvestment Plan
("DRIP"). Unitholders can enroll in the DRIP program by contacting
their investment advisor or Middlefield.
The Fund's units trade on the Toronto Stock Exchange under
the symbol RCO.UN.
This press release contains forward-looking information. The
forward-looking information contained in this press release is
based on historical information concerning distributions and
dividends paid on the securities of issuers historically included
in the portfolio of the Fund. Actual future results, including the
amount of distributions paid by the Fund, may differ from the
monthly distribution amount. Specifically, the income from which
distributions are paid may vary significantly due to: changes in
portfolio composition; changes in distributions and dividends paid
by issuers of securities included in the Fund's portfolio from time
to time; there being no assurance that those issuers will pay
distributions or dividends on their securities; the declaration of
distributions and dividends by issuers of securities included in
the portfolio will generally depend upon various factors, including
the financial condition of each issuer and general economic and
stock market conditions; the level of borrowing by the Fund; and
the uncertainty of realizing capital gains. The risks,
uncertainties and other factors that could influence actual results
are described under "Risk Factors" in the Fund's prospectus dated
October 26, 2012 and other documents
filed by the Fund with the Canadian securities regulatory
authorities. The forward-looking information contained in this
press release constitutes the Fund's current estimate, as of the
date of this press release, with respect to the matters covered
hereby. Investors and others should not assume that any
forward-looking statement contained in this press release
represents the Fund's estimate as of any date other than the date
of this press release.
SOURCE Middlefield Can-Global REIT Income Fund