CEDARHURST, N.Y.--(BUSINESS WIRE)--Postal Realty Trust, Inc. (NYSE: PSTL) (the “Company”), an internally managed real estate investment trust that owns and manages over 1,700 postal properties leased primarily to the United States Postal Service (the “USPS”), ranging from last-mile post offices to larger industrial facilities, announced today its board of directors has approved a quarterly dividend on the Company’s Class A common stock in the amount of $0.2375 per share. This represents a 3.3% increase from the first quarter 2022 dividend.
Andrew Spodek, Chief Executive Officer, stated, “The board of directors has decided to maintain our current dividend per share. In this environment, they believe it is prudent to retain additional cash flow for future growth, reinvestment in our company and to continue to fortify our balance sheet. We believe we have an attractive dividend and the board will review increases on an annual basis.”
The dividend will be payable on May 31, 2023 to stockholders of record as of the close of business on May 5, 2023.
About Postal Realty Trust, Inc.
Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 1,700 postal properties leased primarily to the USPS. More information is available at postalrealtytrust.com.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements.” Forward-looking statements include statements that are based on various assumptions (some of which are beyond the Company’s control) and may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including future expected dividend payment levels, are based on the Company’s current expectations and assumptions regarding capital market conditions the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS’s terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, general real estate market conditions, the Company’s competitive environment and other factors set forth under “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.