08:30 AM EDT, 09/16/2024 (MT Newswires) -- Chartwell Retirement Residences (CSH-UN.TO) on Monday declared a cash distribution of $0.051 per trust unit.

The cash distribution will be payable on Oct. 15 to unitholders of record on Sept. 30.

Meanwhile, Chartwell said its same property permanent move-in activity so far this year exceeded by 10% the same period in 2023.

"We expect to achieve continued occupancy growth in 2024 and beyond, 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 rose 3.2% last Friday to $15.95.