Fibra Inn Announces Cash Distribution Payment Corresponding to the First Quarter 2018
MONTERREY, Mexico, May 16, 2018 (GLOBE NEWSWIRE) — Deutsche Bank Mexico, S.A., Banking institution, Trust Division F/1616 or Fibra Inn (BMV: FINN13, ADR OTC: DFBRY) (“Fibra Inn” or “the Company”), a Mexican real estate investment trust internally managed specializing in the hotel industry serving the business traveler, announced that the Company will execute a cash distribution from the Trust’s capital reimbursement, for the period of January 1, 2018 to March 31, 2018 through a payment, on May 16, 2018, totaling Ps. 109,050,893.75 (one hundred and nine million, fifty thousand, eight hundred and ninety-three pesos 75/100 Mexican pesos).
The following are the important dates for this distribution:
- Ex-dividend date May 14, 2018
- Record date May 15, 2018
- Payment date May 16, 2018
The total distribution per CBFI from the capital reimbursement is the following:
| Total amount to be distributed: | Ps. 109,050,893.75 |
| Number of CBFIs outstanding: | 434,274,584 |
| Total amount to be distributed per CBFI: | Ps. 0.2511 |
| Implied Value of the CBFI: | Ps. 19.56 |
In accordance to current tax laws applicable to Fibra Inn, when the fiduciary delivers CBFI holders an amount greater than the taxable income for the period generated by the trustee assets, the difference shall be considered a capital reimbursement and will lower the proven acquisition cost of the certificates held by those receiving it. The capital reimbursement will not generate a tax withholding for Fibra Inn’s investors.
About the Company
Fibra Inn is a Mexican trust formed primarily to acquire, develop and rent a broad range of hotel properties in Mexico aimed at the business traveler. The Company has signed franchise, license and brand usage agreements with international hotel brands for the operation of global brands as well as the operation of national brands. Additionally, the Company has development agreements. These hotels enjoy some of the industry’s top loyalty programs. Fibra Inn trades its Real Estate Certificates (Certificados Bursátiles Fiduciarios Inmobiliarios or “CBFIs”) on the Mexican Stock Exchange under the ticker symbol “FINN13”; its ADRs trade on the OTC market in the U.S. under the ticker symbol “DFBRY”.
Note on Forward-Looking Statements
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management’s current view and estimates of future economic circumstances, industry conditions, Company performance and financial results. Also, certain reclassifications have been made to make figures comparable for the periods. The words “anticipates”, “believes”, “estimates”, “expects”, “plans” and similar expressions, as they relate to the Company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.
| In México: Lizette Chang, IRO Fibra Inn Tel. 52-1-81-1778-5926 [email protected] |
In New York: Maria Barona / Melanie Carpenter i-advize Corporate Communications Tel. (212)406-3691 [email protected] |
Source:Fibra Inn
0 Comments