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Parking REIT halts cash distributions, common share dividends

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Parking REIT halts cash distributions, common share dividends

Parking REIT Inc.'s board suspended the company's cash distributions and common stock dividends, effective immediately, in a bid to preserve capital and boost shareholder value.

The company, which primarily invests in U.S. and Canadian parking lots and facilities, said the cash savings from the suspension should enable it to explore investment opportunities and prepare for a potential liquidity event.