Franklin Street Properties Corp. Declares Special Cash Dividend

Rhea-AI Summary

Franklin Street Properties Corp. (FSP) has declared a special cash dividend of $0.32 per share, payable on January 12, 2022, to stockholders of record as of December 31, 2021. This decision stems from taxable gains realized from the disposition of approximately $600 million in assets during 2021. The company focuses on value-oriented investments in office properties across key U.S. markets, aiming for long-term growth and current income for its shareholders.

Positive

• Declaration of a special cash dividend of $0.32 per share.
• Realized taxable gains from the sale of approximately $600 million of assets.
• Focus on long-term growth and income generation for shareholders.

Negative

• None.

WAKEFIELD, Mass.--(BUSINESS WIRE)-- Franklin Street Properties Corp. (“FSP”, “our” or “we”) (NYSE American: FSP) announced today that its Board of Directors declared a special cash dividend of $0.32 per share of common stock payable on January 12, 2022 to stockholders of record as of the close of business on December 31, 2021. The decision to declare a special dividend was a result of taxable gains realized on our previously disclosed dispositions of approximately $600 million of assets in the aggregate during 2021.

This press release, along with other news about FSP, is available on the Internet at www.fspreit.com. We routinely post information that may be important to investors in the Investor Relations section of our website. We encourage investors to consult that section of our website regularly for important information about us and, if they are interested in automatically receiving news and information as soon as it is posted, to sign up for E-mail Alerts.

About Franklin Street Properties Corp.

Franklin Street Properties Corp., based in Wakefield, Massachusetts, is focused on infill and central business district (CBD) office properties in the U.S. Sunbelt and Mountain West, as well as select opportunistic markets. FSP seeks value-oriented investments with an eye towards long-term growth and appreciation, as well as current income. FSP is a Maryland corporation that operates in a manner intended to qualify as a real estate investment trust (REIT) for federal income tax purposes. To learn more about FSP please visit our website at www.fspreit.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211203005049/en/

For Franklin Street Properties Corp.

Georgia Touma, 877-686-9496

Source: Franklin Street Properties Corp.

FAQ

What is the special dividend amount declared by FSP?

Franklin Street Properties Corp. declared a special cash dividend of $0.32 per share.

When will the special dividend be paid to shareholders of FSP?

The special dividend will be paid on January 12, 2022.

What is the record date for FSP's special dividend?

The record date for the special dividend is December 31, 2021.

Why did FSP declare a special dividend?

The special dividend was declared due to taxable gains from the disposition of approximately $600 million in assets during 2021.

What kind of properties does Franklin Street Properties Corp. focus on?

FSP focuses on infill and central business district office properties in the U.S. Sunbelt and Mountain West.