NEWTON, Mass.--(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.