CommonWealth REIT Announces New Common Share Dividend Rate
09 Outubro 2012 - 5:02PM
Business Wire
CommonWealth REIT (NYSE: CWH) today announced a new quarterly
Common Share dividend rate of $0.25/share ($1.00/share per year).
The next quarterly dividend of $0.25/share will be paid to holders
of record of Common Shares at the close of business on October 22,
2012, and will be distributed on or about November 21, 2012. The
new quarterly dividend rate represents a reduction from the
quarterly dividend rate of $0.50/share ($2.00/share per year)
previously paid by CWH. The new annualized dividend rate of $1.00
per share per year represents a 6.8% annual yield on yesterday’s
NYSE closing price of CWH Common Shares ($14.77/share).
CWH determined to lower its historical common share dividend
rate, in part, because it believes that retaining more cash flow
may enable the company to more aggressively lease space and
increase occupancy at its properties in the current market
conditions.
The dividend rates payable on CWH’s Series D convertible
Preferred Shares and Series E Preferred Shares are not affected by
this announcement.
CommonWealth REIT is a real estate investment trust which
primarily owns office properties located throughout the United
States. CWH 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 CWH’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 CWH’S CONTROL. FOR EXAMPLE:
- THIS PRESS RELEASE STATES THAT CWH
BELIEVES THAT BY LOWERING ITS HISTORICAL COMMON SHARE DIVIDEND RATE
IT WILL BE ABLE TO RETAIN MORE CASH FLOW, ALLOWING CWH TO MORE
AGGRESSIVELY LEASE SPACE AND INCREASE OCCUPANCY AT ITS PROPERTIES.
HOWEVER, THERE IS NO GUARANTEE THAT CWH WILL BE SUCCESSFUL LEASING
SPACE AND NO GUARANTEE THAT OCCUPANCY WILL INCREASE AS A DIRECT OR
INDIRECT RESULT OF LOWERING CWH’S COMMON SHARE DIVIDEND RATE OR
OTHERWISE.
- THIS PRESS RELEASE STATES THAT CWH’S
DIVIDEND RATE WILL BE $0.25/SHARE PER QUARTER OR $1.00/SHARE PER
YEAR. A POSSIBLE IMPLICATION OF THIS STATEMENT IS THAT CWH WILL
CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF $0.25/SHARE PER QUARTER OR
$1.00/SHARE PER YEAR IN THE FUTURE. CWH’S DIVIDEND RATES ARE SET
AND RESET FROM TIME TO TIME BY CWH’S BOARD OF TRUSTEES. THE CWH
BOARD CONSIDERS MANY FACTORS WHEN SETTING DIVIDEND RATES INCLUDING
CWH’S HISTORICAL AND PROJECTED INCOME, NORMALIZED FUNDS FROM
OPERATIONS, CASH AVAILABLE FOR DISTRIBUTION, THE THEN CURRENT AND
EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY CWH’S OBLIGATIONS,
DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID TO MAINTAIN CWH’S
TAX STATUS AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS
DEEMED RELEVANT BY CWH’S BOARD OF TRUSTEES IN THEIR 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 Trust with transferable
shares of beneficial interest listed on the New York Stock
Exchange. No shareholder, Trustee or officer is personally liable
for any act or obligation of the Trust.
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