LXP Industrial Trust Announces Quarterly Common Share Dividend

Rhea-AI Summary

LXP Industrial Trust (NYSE: LXP), a REIT specializing in single-tenant industrial real estate, announced a quarterly dividend for common shares of $0.13. The dividend applies to the quarter ending June 30, 2024, and is payable on or about July 15, 2024, to shareholders on record as of June 28, 2024. Additionally, LXP declared a cash dividend of $0.8125 per share for Series C Cumulative Convertible Preferred Stock for the same period, payable on or about August 15, 2024, to shareholders on record as of July 31, 2024.

Positive

• Quarterly common share dividend declared at $0.13.
• Dividend pertains to the quarter ending June 30, 2024.
• Dividend payable on or about July 15, 2024.
• Shareholders on record as of June 28, 2024, will receive the dividend.
• Cash dividend of $0.8125 per share declared for Series C Cumulative Convertible Preferred Stock.
• Preferred stock dividend payable on or about August 15, 2024.
• Preferred stock shareholders on record as of July 31, 2024, will receive the dividend.

Negative

• No increase in the quarterly common share dividend amount.
• Dividend amount of $0.13 may be seen as modest by some investors.

WEST PALM BEACH, Fla., June 17, 2024 (GLOBE NEWSWIRE) -- LXP Industrial Trust (“LXP”) (NYSE: LXP), a real estate investment trust (REIT) focused on single-tenant industrial real estate investments, today announced that it declared a regular common share dividend for the quarter ending June 30, 2024 of $0.13 per common share payable on or about July 15, 2024 to common shareholders of record as of June 28, 2024.

LXP also declared a cash dividend of $0.8125 per share of Series C Cumulative Convertible Preferred Stock for the quarter ending June 30, 2024, which is payable on or about August 15, 2024, to shareholders of record as of July 31, 2024.

ABOUT LXP INDUSTRIAL TRUST

LXP Industrial Trust (NYSE: LXP) is a publicly traded real estate investment trust (REIT) focused on class A, single-tenant warehouse and distribution investments across the United States. LXP seeks to expand its portfolio through acquisitions, development projects, and build-to-suit and sale/leaseback transactions. For more information or to follow LXP on social media, visit www.lxp.com.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties and other factors not under LXP’s control which may cause actual results, performance or achievements of LXP to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, (1) the discretion of LXP’s Board of Trustees with respect to the authorization of future dividend declarations and (2) those factors and risks detailed in LXP's periodic filings with the Securities and Exchange Commission. Except as required by law, LXP undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events.

Contact:
Investor or Media Inquiries for LXP Industrial Trust:
Heather Gentry, Senior Vice President of Investor Relations
LXP Industrial Trust
Phone: (212) 692-7200 E-mail: hgentry@lxp.com

FAQ

What is the LXP Industrial Trust quarterly common share dividend amount for June 2024?

The quarterly common share dividend amount is $0.13.

When will the LXP common share dividend be paid?

The common share dividend will be paid on or about July 15, 2024.

Who is eligible for the LXP common share dividend?

Shareholders of record as of June 28, 2024, are eligible for the dividend.

What is the dividend amount for LXP's Series C Cumulative Convertible Preferred Stock?

The dividend amount for Series C Cumulative Convertible Preferred Stock is $0.8125 per share.

When will the preferred stock dividend for LXP be paid?

The preferred stock dividend will be paid on or about August 15, 2024.

Who is eligible for the LXP preferred stock dividend?

Shareholders of record as of July 31, 2024, are eligible for the preferred stock dividend.