Industrial Logistics Properties Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Industrial Logistics Properties Trust (Nasdaq: ILPT) has announced a quarterly cash distribution of $0.33 per share, translating to $1.32 annually. This distribution will be paid to shareholders of record as of October 25, 2021, with payment expected on or about November 18, 2021. The announcement highlights ILPT's ongoing commitment to providing returns to its investors. However, the company warns that future dividend rates may fluctuate based on various factors, including income and cash availability.

Positive

• Quarterly cash distribution of $0.33 per share ($1.32 annually) boosts shareholder income.
• Company's commitment to regular dividends reflects confidence in ongoing financial health.

Negative

• Future dividend rates are not guaranteed and may decrease based on financial conditions.

NEWTON, Mass.--(BUSINESS WIRE)-- Industrial Logistics Properties Trust (Nasdaq: ILPT) today announced a regular quarterly cash distribution on its common shares of $0.33 per share ($1.32 per share per year). This distribution will be paid to ILPT’s common shareholders of record as of the close of business on October 25, 2021 and distributed on or about November 18, 2021.

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 CONCERNING 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 per common share ($1.32 per share per year). A possible implication of this statement is that ILPT will continuously pay quarterly dividends of $0.33 per common share ($1.32 per share per year) in the future. ILPT’s dividend rates are set and reset from time to time by ILPT’s Board of Trustees. The ILPT Board considers many factors when setting dividend rates including ILPT’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 ILPT’s obligations and fund ILPT’s investments, ILPT’s distribution rate as a percentage of the trading price of its common shares, or dividend yield, and the dividend yield of other industrial REITs, 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.

The information contained in ILPT’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in ILPT’s periodic reports or incorporated therein, identifies important factors that could cause ILPT’s actual results to differ materially from those stated or implied by ILPT’s forward-looking statements. ILPT’s filings with the SEC are available at the SEC’s website at www.sec.gov.

You should not place undue reliance upon forward-looking statements.

Except as required by law, ILPT does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005129/en/

Kevin Barry, Director, Investor Relations

(617) 658-0776

Source: Industrial Logistics Properties Trust

FAQ

What is the dividend amount announced by ILPT?

ILPT announced a quarterly cash distribution of $0.33 per share.

When will ILPT distribute its quarterly dividend?

The dividend will be paid on or about November 18, 2021.

Who are the shareholders eligible for the ILPT dividend?

Shareholders of record as of October 25, 2021, are eligible for the dividend.

How does ILPT determine its dividend rates?

ILPT's Board of Trustees considers factors like historical income, cash availability, and dividend yield when setting rates.

Is ILPT's dividend sustainable?

The dividend is subject to change based on ILPT's financial performance and market conditions.