W. P. Carey & Co. LLC Increases Third Quarter Dividend and Increases Share Repurchase Program by $20 Million
September 17 2007 - 5:00PM
PR Newswire (US)
NEW YORK, Sept. 17 /PRNewswire-FirstCall/ -- Investment firm W. P.
Carey & Co. LLC announced today that its Board of Directors has
increased the Company's quarterly cash dividend to $0.472 per share
for the quarter ending September 30, 2007. The dividend is payable
on October 15, 2007 to shareholders of record as of September 28,
2007. This is the Company's 26th consecutive quarterly dividend
increase. In addition, W. P. Carey's Board approved the repurchase
of an additional $20 million of the Company's common stock under
its ongoing share repurchase program. The Board also approved an
extension of this program from December 31, 2007 to March 31, 2008.
The Company is now authorized to repurchase up to $40 million of
its common stock in the open market through March 31, 2008 as
conditions warrant. Currently, the Company has repurchased $17.2
million of its common stock under its ongoing share repurchase
program. The timing and amount of repurchase transactions will
depend on market conditions and regulatory considerations, and may
be suspended or discontinued at any time. As of June 30, 2007 the
Company had 39,129,982 shares outstanding. W. P. Carey & Co.
LLC Founded in 1973, W. P. Carey & Co. LLC is a leading global
provider of long-term net lease financing for companies worldwide.
With over $9.6 billion in assets and $5 billion in equity capital,
the Company and its CPA(R) series of income generating real estate
funds specialize in helping companies and private equity firms
realize the capital tied up in their real estate assets. The W. P.
Carey Group owns more than 850 commercial and industrial properties
in 14 countries, representing approximately 100 million square
feet. http://www.wpcarey.com/ Individuals interested in receiving
future updates on W. P. Carey via e- mail can register at
http://www.wpcarey.com/alerts. This press release contains
forward-looking statements within the meaning of the Federal
securities laws. A number of factors could cause the company's
actual results, performance or achievement to differ materially
from those anticipated. Among those risks, trends and uncertainties
are the general economic climate; the supply of and demand for
office and industrial properties; interest rate levels; the
availability of financing; and other risks associated with the
acquisition and ownership of properties, including risks that the
tenants will not pay rent, or that costs may be greater than
anticipated. For further information on factors that could impact
the company, reference is made to the company's filings with the
Securities and Exchange Commission. COMPANY CONTACT: PRESS CONTACT:
Kristina McMenamin Guy Lawrence W. P. Carey & Co. LLC Ross
& Lawrence 212-492-8995 212-308-3333 mail to: , DATASOURCE: W.
P. Carey & Co. LLC CONTACT: Company, Kristina McMenamin of W.
P. Carey & Co. LLC, +1-212-492-8995, , ; or Press, Guy Lawrence
of Ross & Lawrence, +1-212-308-3333, , for W. P. Carey &
Co. LLC Web site: http://www.wpcarey.com/
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