09:12 AM EST, 12/16/2024 (MT Newswires) -- Chartwell Retirement Residences (CSH-UN.TO) on Monday declared a cash distribution of $0.051 per trust unit, payable Jan. 15, to unitholders of record on Dec. 31.

The company also said that its same property permanent move-in activity to date has exceeded the same periods in 2023 by 6%.

"We expect to achieve continued occupancy growth in 2025, driven by the successful execution of our operating, marketing, and sales strategies, and supported by strong demand resulting from accelerating demographic growth, shortages of long term care beds, and fewer seniors housing construction starts," the company said.

Chartwell's share price fell 1.3% on Friday to $15.49 on the TSX.