Distribution TORONTO, Nov. 21 /CNW/ - Scott's Real Estate Investment Trust (TSX: SRQ.UN) (Scott's REIT) today announced an initial cash distribution of $0.1302 per unit for the period from October 6 to November 30, 2005. The distribution is payable on December 15, 2005 to unitholders of record on November 30, 2005. Scott's REIT - which owns 68.9 per cent of Scott's Real Estate Limited Partnership (Scott's RE LP), the owner of 190 restaurant and small-box retail properties across Canada - completed its initial public offering on October 6, 2005. The initial cash distribution covers the 56-day period from the completion of the IPO through to November 30, 2005, as was indicated in Scott's REIT final prospectus for the IPO. "Future distributions of the REIT will be paid on a monthly basis," said John I. Bitove, Chairman and Chief Executive Officer. "Since completing the IPO, we have been pleased with the performance of our operations, and remain on track to be the premier restaurant and small box retail property owner in Canada." Scott's REIT's policy is to pay cash distributions on or about the 15th of each month to unitholders of record on the last business day of the preceding month. Unitholders who are non-residents of Canada will be required to pay all withholding taxes payable on any distributions by Scott's REIT. Scott's REIT also announced today a cash distribution of $0.1302 per unit for the period from October 6 to November 30, 2005 to unitholders of record of Class B Limited Partnership Units in Scott's RE LP on November 30, 2005. Forward-looking statements -------------------------- This release contains forward-looking statements. Such statements are based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from projections suggested in any forward-looking statements due to factors such as the competitive nature of the quick service restaurant industry, the ability of Scott's REIT and Scott's RE LP to execute a growth and development strategy, the reliance of Scott's REIT and Scott's RE LP on key personnel, and risk associated with the structure of income trusts. Scott's REIT and Scott's RE LP assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward-looking statements. Additional information identifying risks and uncertainties is contained in Scott's REIT filings with the Canadian securities regulators, available at www.sedar.com. About Scott's Real Estate Investment Trust ------------------------------------------ Scott's REIT has a 68.9 percent interest in Scott's RE LP, which owns 190 restaurant and small-box retail properties in seven provinces across Canada. Priszm Canadian Income Fund (TSX:QSR.UN), a 480-outlet quick service restaurant chain with annual revenues of $475 million, is a tenant at all but one of the properties. Scott's REIT's units are traded on Toronto Stock Exchange under the symbol SRQ.UN. Additional information is available in Scott's REIT's prospectus at www.sedar.com . %SEDAR: 00022537E For further information: please contact: Richard Rotman, Wilcox Group (Toronto), (416) 203-6666, ext. 2219, email@example.com CO: Scott's Real Estate Investment Trust ST: Ontario NI: DIV REL -0- Nov/21/2005 14:01 GMT
Scott's Real Estate Investment Trust Announces Initial Cash
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