Investor Presentaiton
STABLE CASHFLOW
81.1%
83.1%
81.8%
83.0%
87.5%
PAYOUT RATIO*
2015
2016
2017
2018
2019
in thousands of dollars, except per Unit information)
FFO per Unit(1)
2.10
2.17(3)
2.20
2.28
2.26
AFFO/ACFO per Unit(2)
1.99
2.00(3)
2.10
2.13
2.08
Distributions per Unit
1.61
1.66
1.71
1.76
1.81
DRIP participation rate
19.1%
20.9%
22.0%
23.4%
26.3%
Distributions reinvested through DRIP
39,137
46,212
50,719
56,656
69,693
Surplus of AFFO/ACFO over distributions paid (2)
95,117
109,333
111,803
115,384
115,980
Distributions fully funded from operating cashflow
Annual distribution increases announced in each of 2014, 2015, 2016, 2017, 2018, and 2019 of $0.05 per unit. Current annual
distribution per unit is $1.85
2015 (AFFO) and 2016-2019 (ACFO)
(1)
FFO with one-time adjustments and before Transactional FFO
(2)
AFFO/ACFO with one-time adjustments
(3)
Excludes $0.06 per unit of non-recurring income
SMARTCENTRES REIT | Q2 2019 INVESTOR PRESENTATION
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