HALIFAX, NOVA SCOTIA--(Marketwired - Dec. 16, 2015) - Killam Properties Inc. (TSX:KMP) is pleased to announce that its board of directors has declared a dividend pursuant to Killam's monthly dividend policy. The dividend of $0.05 per common share will be paid on January 15, 2016, to shareholders of record on December 31, 2015.

Killam Properties Inc., based in Halifax, Nova Scotia, is one of Canada's largest residential landlords, owning, operating and developing multi-family apartments and manufactured home communities. On December 8, 2015, Killam received shareholder approval to convert to a real estate investment trust ("REIT"). Subject to obtaining all required approvals and satisfying all required conditions, the REIT conversion is expected to become effective on January 1, 2016.

Note: The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information:

Killam Properties Inc.
Dale Noseworthy, CPA, CA, CFA
Vice President, Investor Relations and Corporate Planning
(902) 442-0388
dnoseworthy@killamproperties.com