IRET Announces Distributions for the 3rd Quarter of Calendar Year 2020

Rhea-AI Summary

IRET (NYSE: IRET) has declared a quarterly distribution of $0.70 per share, payable on October 9, 2020, to shareholders of record as of September 30, 2020. This distribution marks the continuation of cash dividends paid since 1971. Additionally, a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: IRET PRC) will be paid on September 30, 2020, to record holders as of September 15, 2020.

Positive

• Regular quarterly distribution of $0.70 per share indicates consistent cash flow and financial stability.
• Long history of dividend payments since 1971 suggests a reliable investment for shareholders.
• Cumulative distributions on preferred shares indicate strong commitment to preferred shareholders.

Negative

• None.

MINNEAPOLIS, Sept. 4, 2020 /PRNewswire/ -- IRET (NYSE: IRET) announced today that its Board of Trustees declared a regular quarterly distribution of $0.70 per share/unit, payable on October 9, 2020, to common shareholders and unitholders of record at the close of business on September 30, 2020.  IRET has paid cash dividends to common shareholders and unitholders every quarter since its initial dividend in 1971.

The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: IRET PRC), payable on September 30, 2020, to holders of record at the close of business on September 15, 2020.  Series C preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.65625 per share.

About IRET
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities.  Currently, we own interests in 66 apartment communities consisting of 11,445 apartment homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: "IRET" and "IRET PRC," respectively). IRET's press releases and supplemental information are available on its website at www.iretapartments.com or by calling Investor Relations at 701-837-7104.

Contact Information
Emily Miller
Investor Relations
Phone: 701-837-7104
E-mail: IR@iret.com

 

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SOURCE IRET

FAQ

What is the dividend declared by IRET on September 4, 2020?

IRET declared a quarterly distribution of $0.70 per share on common shares, payable on October 9, 2020.

When will IRET's preferred share distribution be paid?

The distribution of $0.4140625 per share on Series C Preferred Shares will be paid on September 30, 2020.

What is the record date for IRET's common share dividend?

The record date for the common share dividend is September 30, 2020.

How long has IRET been paying dividends?

IRET has paid cash dividends to shareholders every quarter since its initial dividend in 1971.