Plaza unitholders are able to conveniently and economically increase their holdings in Plaza by participating in Plaza’s Distribution Reinvestment Plan (DRIP). Under the DRIP, unitholders will be able to reinvest distributions that they receive from Plaza in additional units of Plaza. Participants in the DRIP will also receive a 3% bonus on amounts reinvested to be paid in additional units of Plaza. Units purchased under the DRIP will be valued at the weighted average closing price of the units of Plaza on the previous 5 trading days.
As an example, a unitholder who holds 5,000 Plaza units would be eligible to receive $1,350.00 in distributions per year (using our current distribution rate of $0.27/unit). If that unitholder is registered in the DRIP program and the weighted average closing price is $5.00/unit, the investor would instead receive a distribution of 270 units. In addition, the unitholder would receive a bonus of 3% — equivalent to 8 units — for a total of 278 units.
Please note that any shares purchased through the DRIP are not subject to the payment of any brokerage commissions which further enhances a unitholder’s investment returns.