NEW YORK--(BUSINESS WIRE)--CapLease, Inc. (NYSE: LSE) today provided the following dividend updates.
The Company’s Board of Directors announced an increase in the Company’s quarterly dividend by 3% beginning with the first quarter of 2013 to $0.0775 per share. The Company has now increased the dividend for three consecutive quarters, representing an increase of 19% since the second quarter of 2012.
Mr. Paul McDowell, Chairman and Chief Executive Officer, stated, “The additional dividend increase we are announcing today continues to reflect the positive results of our portfolio growth and balance sheet strengthening activities of recent years. Our dividend remains well covered by existing operations and is positioned for further increases as we continue to execute on our growth strategy in the months and years ahead.”
First Quarter 2013 Dividends
Consistent with the foregoing dividend policy, the Company announced today that its Board of Directors has declared a cash dividend of $0.0775 per share of common stock and per limited partnership unit for the first quarter of 2013.
The Company’s Board of Directors also declared a cash dividend of $0.5078125 per share of 8.125% Series A Cumulative Redeemable Preferred Stock (NYSE: LSEPrA), a cash dividend of $0.5234375 per share of 8.375% Series B Cumulative Redeemable Preferred Stock (NYSE: LSEPrB), and a cash dividend of $$0.4027778 per share of 7.25% Series C Cumulative Redeemable Preferred Stock (NYSE: LSEPrC), all for the first quarter of 2013.
The first quarter 2013 common and preferred dividends are payable on April 15, 2013 to stockholders of record as of April 4, 2013.
About the Company:
CapLease, Inc. is a real estate investment trust, or REIT, that primarily owns and manages a diversified portfolio of single tenant commercial real estate properties subject to long-term leases to high credit quality tenants.