Office Properties Income Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) announced a quarterly cash distribution of $0.55 per common share, amounting to $2.20 annually. This payment is for shareholders of record as of January 23, 2023, with distribution slated for February 16, 2023. OPI focuses on leasing office properties primarily to high-credit tenants, with 63% of revenue from investment-grade rated tenants as of September 30, 2022, and operates over 160 properties across 31 states and Washington, D.C.

Positive

• Quarterly cash distribution of $0.55 per share reflects consistent income for shareholders.
• 63% of revenue derived from investment-grade rated tenants indicates stability.
• Recognition as Energy Star® Partner of the Year for five consecutive years enhances brand reputation.

Negative

• None.

NEWTON, Mass.--(BUSINESS WIRE)-- Office Properties Income Trust (Nasdaq: OPI) today announced a regular quarterly cash distribution on its common shares of $0.55 per common share ($2.20 per share per year). This distribution will be paid to OPI’s common shareholders of record as of the close of business on January 23, 2023 and distributed on or about February 16, 2023.

About Office Properties Income Trust

OPI is a national real estate investment trust, or REIT, focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of September 30, 2022, approximately 63% of OPI's revenues were from investment grade rated tenants. OPI owned and leased more than 160 properties as of September 30, 2022, with approximately 21.2 million square feet located in 31 states and Washington, D.C. In 2022, OPI was named as an Energy Star® Partner of the Year for the fifth consecutive year and a Gold Level Green Lease Leader. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management as of September 30, 2022, and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. OPI is headquartered in Newton, MA. For more information, visit opireit.com.

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 OPI’s present intent, 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 OPI’s control.

For example, this press release states that OPI’s regular quarterly cash distribution rate is $0.55/share per quarter or $2.20/share per year. A possible implication of this statement is that OPI will continue to pay quarterly distributions of $0.55/share per quarter or $2.20/share per year in the future. OPI’s distribution rate may be set and reset from time to time by OPI’s Board of Trustees. OPI’s Board of Trustees considers many factors when setting or resetting OPI’s distribution rate, including OPI’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 OPI’s obligations and fund its investments, distributions which may be required to be paid to maintain OPI’s qualification for taxation as a REIT and other factors deemed relevant by OPI’s Board of Trustees. Accordingly, future distributions to OPI’s shareholders may be increased or decreased and OPI cannot be sure as to the rate at which future distributions will be paid.

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

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20230111005952/en/

Kevin Barry, Director, Investor Relations

(617) 219-1410

Source: Office Properties Income Trust

FAQ

What is the quarterly cash distribution amount for OPI in 2023?

OPI announced a quarterly cash distribution of $0.55 per common share.

When will the OPI dividend be paid?

The dividend will be paid on or about February 16, 2023.

What percentage of OPI's revenue comes from investment-grade tenants?

Approximately 63% of OPI's revenue comes from investment-grade rated tenants.

What is the annual dividend amount for OPI?

The annual dividend amount for OPI is $2.20 per share.