DRI Healthcare Trust Declares Special Distributions

DRI Healthcare Trust (CNW Group/DRI Healthcare Trust)

TORONTO, Dec. 22, 2021 /CNW/ – DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) (“DRI” or “the Trust”) today announced that its Board of Trustees has declared a special cash distribution in the amount of US$0.22 per trust unit. The special cash distribution will be made payable to unitholders of record at the close of business on December 31, 2021 and paid to such unitholders on January 20, 2022. This special cash distribution is in addition to the quarterly cash distribution declared on November 8, 2021 of US$0.075 per trust unit.

The Trust also announced that, as of December 22, 2021, the Trust has acquired a total of 1,043,070 trust units, for an aggregate purchase price of approximately US$5.5 million, pursuant to its normal course issuer bid announced on September 30, 2021. The total amount of cash that will have been returned to the Trust’s unitholders through the five declared distributions and the normal course issuer bid will be approximately US$20.7 million.

In accordance with the requirement for the Trust to distribute all of its taxable income for the year, the Board of Trustees also declared a special unit distribution of US$0.0360 per unit, which will be made payable to unitholders of record at the close of business on December 31, 2021 and paid to such unitholders on January 20, 2022. Immediately after the issuance of such units in satisfaction of the special unit distribution, the number of outstanding units of the Trust will be consolidated such that the total number of units outstanding will not change, and each unitholder will hold the same number of units following such distribution as were held immediately prior. Each unitholder of record on December 31, 2021 will be entitled to add the amount of the special unit distribution to their adjusted cost base of units of the Trust.

About DRI Healthcare Trust

DRI Healthcare Trust provides unitholders with differentiated exposure to the anticipated growth in the global pharmaceuticals and biotechnology markets. Our business model is focused on managing and growing a diversified portfolio of pharmaceutical royalties with the aim to deliver attractive growth in cash royalty receipts over the long term. DRI Healthcare Trust is an unincorporated open-ended trust governed by the laws of the Province of Ontario, externally managed by its manager, DRI Capital Inc. DRI Healthcare Trust’s units are listed and trade on the Toronto Stock Exchange in Canadian dollars under the symbol “DHT.UN” and in U.S. dollars under the symbol “DHT.U”.

SOURCE DRI Healthcare Trust


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