CAPREIT Announces May 2022 Distribution and Amendment to DRIP

TORONTO, May 19, 2022 (GLOBE NEWSWIRE) -- Canadian Apartment Properties Real Estate Investment Trust ("CAPREIT") (TSX ? CAR.UN) announced today its May 2022 monthly distribution in the amount of $0.12083 per Unit (or $1.45 on an annualized basis). The May distribution will be payable on June 15, 2022 to Unitholders of record on May 31, 2022.

CAPREIT has approved changes to its Distribution Reinvestment Plan ("DRIP") to permit the suspension of the issuance of bonus Units to participants. Consequently, commencing with the June 2022 distribution, participants in the DRIP as of the record date of June 30, 2022 will receive CAPREIT Units at a price equal to the weighted average trading price of CAPREIT Units on the Toronto Stock Exchange for the five trading days immediately preceding each distribution date, without any bonus Units being issued.

CAPREIT Unitholders who wish to amend or alter their participation in the DRIP should make arrangements with their broker, dealer, bank or other market participant as soon as possible to ensure that any changes can be processed before the upcoming June 30, 2022 record date, as their broker, dealer, bank or other market participant may have earlier deadlines.

CAPREIT is Canada's largest publicly-traded provider of quality rental housing. CAPREIT currently owns or has interests in approximately 67,000 residential apartment suites, townhomes and manufactured housing community sites well-located across Canada and the Netherlands with approximately $18 billion of assets under management globally. Since its Initial Public Offering in May 1997, CAPREIT has grown monthly cash distributions per Unit by 103%. For more information about CAPREIT, its business and its investment highlights, please visit our website at www.capreit.ca and our public disclosure which can be found under our profile at www.sedar.com.

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