Killam’s stock is traded on the Toronto Stock Exchange (TSX) under the symbol KMP.

 

Killam’s convertible debentures trade on the TSX on under the symbol KMP:DB

Yes, Killam pays an annualized dividend of $0.56 per share, paid monthly. The monthly dividend is $0.046668 per share.

Yes, Killam does have a dividend reinvestment plan. 

 

The Plan provides eligible shareholders with the opportunity to reinvest their cash dividends, on each dividend payment date, in additional common shares at the average market price of such shares. Participating shareholders also receive a "bonus" distribution of common shares representing 3% of the amount of the dividend reinvested pursuant to the Plan, based on the average market price.

As at December 31, 2007 there were 33.4 million common shares outstanding.

Killam owns multi-family residential apartments in the six largest cities in Atlantic Canada and manufactured home communities across Canada.

At the end of December 2007 Killam owned 167 properties, including 115 apartments and 52 manufactured home communities. Killam’s total unit count at the end of December 2007 was 17,422.

Management believes that a manufactured home community (MHC) portfolio is a strong complement to its apartment portfolio. MHCs, also referred to as trailer parks or land-lease communities, are a stable and predictable asset class with occupancy levels of approximately 99% and low turnover of approximately 1%. 

 

MHC tenants own their own homes and lease the land on which their home is located, for an average monthly rent of $207.

 

Management recognizes that excellent consolidation opportunities exist for MHCs due to the fragmented ownership of an estimated 1,100 communities in Canada. 

Killam has been actively consolidating the apartment market in Atlantic Canada for over five years, since its first acquisitions in February 2002.

Killam’s apartments are located in the six largest cities in Atlantic Canada, including:

 

 

Killam’s manufactured home communities are located across Canada, from Newfoundland to British Columbia. 

Yes, management expects to acquire $75 million to $100 million of new assets during 2008.

Yes, there continue to be opportunities for Killam to grow through acquisition in Atlantic Canada. There are approximately 73,000 rental units in Killam's core markets. Killam believes it has the potential to increase its markets share within its core markets to 15%, from its current level of 12%.

 

Management is interested in expanding the apartment portfolio outstide of Atlantic Canada, and will look for accretive acquistion opportunities in Ontario.

Killam is headquartered in Halifax, Nova Scotia.

Killam was incorporated in May 2000. 

 

Killam completed its first acquisition in February 2002.

Yes, management continues to evaluate conversion to a real estate investment trust and is currently awaiting clarification for the ability to hold MHCs in the REIT structure.

 

Killam has submitted a request to the Canada Revenue Agency for a technical interpretation on the changes to the taxation of income trusts announced on October 31, 2006 by the Minister of Finance (Canada). In particular, Killam has requested a technical interpretation on the exemption that applies to real estate investment trusts, which may be relevant to its MHC business. Killam will provide further updates as the process evolves.

 Computershare Investor Services Inc. is Killam’s transfer agent. Computershare can be contacted at 1-800-564-6253 or at www.computershare.com. 

Please contact Dale Noseworthy, Director, Investor & External Relations, with questions relating to Killam Properties.

 

Phone: 902-442-0388

Email: dnoseworthy@killamproperties.com

Address: 3700 Kempt Road, Suite 100

                Halifax, Nova Scotia

                B3K 4X8