NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc. (Nasdaq: RMR) today announced it has raised its regular quarterly cash dividend on its shares of Class A Common Stock and Class B-1 Common Stock by $0.03 per share to $0.38 per share for the quarter ended September 30, 2019 ($1.52 per share per year). This distribution will be paid to RMR’s shareholders of record as of the close of business on October 28, 2019 and distributed on or about November 14, 2019.
The RMR Group Inc. is a holding company, and substantially all of its business is conducted by its majority-owned subsidiary, The RMR Group LLC. The RMR Group LLC is an alternative asset management company that primarily provides management services to publicly traded REITs and real estate operating companies. As of June 30, 2019, The RMR Group LLC had approximately $30.6 billion of total assets under management, including over 1,500 properties, and employed approximately 600 real estate professionals in more than 30 offices throughout the United States; and the companies managed by The RMR Group LLC collectively had more than 50,000 employees. The RMR Group Inc. is headquartered in Newton, Massachusetts.
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 RMR’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 RMR’s control. For example, this press release states that RMR’s quarterly dividend will be $0.38 per share ($1.52/share per year) on RMR Class A Common Stock and Class B-1 Common Stock. A possible implication of this statement is that RMR will continuously pay quarterly dividends of $0.38/share per quarter or $1.52/share per year in the future. RMR’s dividend rates are set and reset from time to time by RMR’s Board of Directors. The RMR Board of Directors considers many factors when setting dividend rates including RMR’s current and expected earnings, commitments to fund its investments and the availability of cash to fund dividends as compared to alternative uses of such cash. Accordingly, future dividend rates may be increased or decreased and there is no assurance as to the rate at which future dividends will be declared and paid. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward looking statements in this press release. Except as required by law, RMR does not intend to update or change any forward looking statements as a result of new information, future events, or otherwise.