About the DRIP
On January 13, 2017, Artis announced the suspension of its distribution reinvestment plan (the “DRIP”) until further notice. Pursuant to Artis’ Distribution Reinvestment and Unit Purchase Plan dated January 1, 2016, the DRIP permitted enrolled Unitholders to receive monthly cash distributions in REIT Units. Commencing with the January distribution, Unitholders who elected to participate in the DRIP will receive the declared cash distributions on the distribution payment date. If Artis elects to reinstate the DRIP in the future, Unitholders that were enrolled in the DRIP at the time of its suspension and remain enrolled at the time of its reinstatement will automatically resume participation in the DRIP.
Artis’ Board of Trustees and Management have elected to suspend the DRIP to avoid issuing equity at a price below net asset value per unit, which can occur from time to time under the DRIP. The suspension of the DRIP is intended to preserve value and eliminate dilution.
To access the press release pertaining to the suspension of the DRIP, please click on the following link: http://www.artisreit.com/files/2017/01/Artis_News_011317.pdf
If you have questions regarding DRIP payments, you should speak with a representative from CST Trust Company. The AnswerLine is 1-800-387-0825 or 1-416-682-3860.
Visit CST’s Investor Services Website for more information.