Industrial Logistics Properties Trust Announces its Initial Dividend on Common Shares
April 19 2018 - 8:00AM
Business Wire
Industrial Logistics Properties Trust (Nasdaq: ILPT) today
announced a prorated cash distribution on its common shares of
$0.27 per common share for the period from January 17, 2018 (the
effective date of ILPT’s initial public offering) through March 31,
2018. This pro-rated cash distribution is based upon a quarterly
dividend rate of $0.33 per share ($1.32 per share per year). This
pro-rated distribution will be paid to ILPT’s common shareholders
of record as of the close of business on April 30, 2018 and
distributed on or about May 14, 2018.
Industrial Logistics Properties Trust is a real estate
investment trust, or REIT, that owns and leases industrial and
logistics properties throughout the United States. ILPT is managed
by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an
alternative asset management company that is headquartered in
Newton, MA.
WARNING REGARDING FORWARD LOOKING
STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN
THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995
AND OTHER SECURITIES LAWS. THESE FORWARD LOOKING STATEMENTS ARE
BASED UPON ILPT'S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE
STATEMENTS AND THE IMPLICATIONS OF THESE STATEMENTS ARE NOT
GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF
WHICH ARE BEYOND ILPT'S CONTROL. FOR EXAMPLE, THIS PRESS RELEASE
STATES THAT ILPT'S DIVIDEND RATE WILL BE $0.33/SHARE PER QUARTER OR
$1.32/SHARE PER YEAR. A POSSIBLE IMPLICATION OF THIS STATEMENT IS
THAT ILPT WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF $0.33/SHARE
PER QUARTER OR $1.32/SHARE PER YEAR IN THE FUTURE. ILPT'S DIVIDEND
RATES WILL BE SET AND RESET FROM TIME TO TIME BY ILPT'S BOARD OF
TRUSTEES. THE ILPT BOARD WILL CONSIDER MANY FACTORS WHEN SETTING
DIVIDEND RATES INCLUDING ILPT'S HISTORICAL AND PROJECTED INCOME,
NORMALIZED FUNDS FROM OPERATIONS, THE THEN CURRENT AND EXPECTED
NEEDS AND AVAILABILITY OF CASH TO PAY ILPT'S OBLIGATIONS,
DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID BY ILPT TO QUALIFY
FOR TAXATION AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS
DEEMED RELEVANT BY ILPT'S BOARD OF TRUSTEES IN ITS DISCRETION.
ACCORDINGLY, FUTURE DIVIDEND RATES MAY BE INCREASED OR DECREASED
AND THERE IS NO ASSURANCE AS TO THE RATE AT WHICH FUTURE DIVIDENDS
WILL BE PAID. FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE
CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON ANY FORWARD LOOKING
STATEMENTS IN THIS PRESS RELEASE.
A Maryland Real Estate Investment Trust with
transferable shares of beneficial interest listed on the Nasdaq.No
shareholder, Trustee or officer is personally liable for any act or
obligation of the Trust.
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version on businesswire.com: https://www.businesswire.com/news/home/20180419005267/en/
Industrial Logistics Properties TrustOlivia Snyder,
617-219-1489Manager, Investor Relationswww.ilptreit.com
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