|By Marketwired .||
|July 15, 2014 10:21 AM EDT||
MISSISSAUGA, ONTARIO -- (Marketwired) -- 07/15/14 -- Chartwell Retirement Residences ("Chartwell") (TSX:CSH.UN) announced today a cash distribution of $0.0450 per Trust Unit for the month of July 2014. The cash distribution will be payable on August 15, 2014 to unitholders of record on July 31, 2014.
Unitholders can participate in Chartwell's Distribution Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units, and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at www.chartwell.com or from a unitholder's investment advisor.
Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities from independent supportive living through assisted living to long term care. It is one of the largest participants in the seniors housing business in North America. Chartwell's aim is to capitalize on the strong demographic trends present in its markets to maximize the value of its existing portfolio of retirement residences, and prudently avail itself of opportunities to grow internally and through accretive acquisitions.