CHICAGO--(BUSINESS WIRE)--Equity Commonwealth (NYSE: EQC) today announced that its Board of Trustees declared dividends on the company’s Series D and E Preferred Shares.
A quarterly dividend of $0.40625 per Series D Preferred Share will be paid on May 16, 2016 to shareholders of record on April 25, 2016 for the period from February 15, 2016 to May 14, 2016.
A quarterly dividend of $0.453125 per Series E Preferred Share will be paid on May 16, 2016 to shareholders of record on April 25, 2016 for the period from February 15, 2016 to May 14, 2016.
On April 12, 2016, the company announced that its Board of Trustees has called for redemption, on May 15, 2016 (the “Redemption Date”), all $275 million of its outstanding 7.25% Series E Cumulative Redeemable Preferred Shares (the “Series E Preferred Shares”). The Series E Preferred Shares will be redeemed at a price of $25 per share, plus any accrued and unpaid dividends (the “Redemption Price”), on May 16, 2016, the first business day after the Redemption Date. From the Redemption Date forward, dividends will no longer accrue and holders will have no rights other than the right to receive the Redemption Price, without interest, upon surrender of the Series E Preferred Shares. Please reference the press release dated April 12, 2016 for additional information.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties throughout the United States. As of February 17, 2016, EQC’s same-property portfolio comprised 64 properties and 23.5 million square feet.
This press release may contain forward-looking statements and information within the meaning of the federal securities laws. These statements are based on current expectations, estimates, projections and assumptions made by management. While Equity Commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. Other risks and uncertainties are described under the heading “Risk Factors” in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.eqcre.com. Many of these uncertainties and risks are difficult to predict and beyond management’s control. Forward-looking statements are not guarantees of future performance, results or events. Equity Commonwealth assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.