Office Properties Income Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) has declared a quarterly cash distribution of $0.55 per common share, equating to $2.20 annually. This payment will be made to shareholders of record as of October 24, 2022, with distributions set for November 17, 2022. OPI primarily owns and leases office properties, with 63% of revenues from investment-grade tenants. As of June 30, 2022, OPI managed over 170 properties across 32 states, totaling approximately 22.5 million square feet.

Positive

• Quarterly cash distribution of $0.55 per share provides consistent income for shareholders.
• Approximately 63% of revenues are derived from investment-grade rated tenants, enhancing financial stability.
• Managed over 170 properties, indicating a diversified portfolio and potential for growth.

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 October 24, 2022 and distributed on or about November 17, 2022.

About Office Properties Income Trust

OPI is a national REIT focused on owning and leasing office properties primarily to single tenants and those with high credit quality characteristics. As of June 30, 2022, approximately 63% of OPI's revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of June 30, 2022, with approximately 22.5 million square feet located in 32 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 more than $37 billion in assets under management as of June 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 REGARDING 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 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 dividend rate will be $0.55 per share per quarter or $2.20 per share per year. A possible implication of this statement is that OPI will continuously pay quarterly dividends of $0.55 per share per quarter or $2.20 per share per year in the future. OPI’s dividend rates are set and reset from time to time by OPI’s Board of Trustees. The OPI Board considers many factors when setting dividend rates 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 OPI’s investments, distributions which may be required to be paid to maintain OPI’s tax status as a real estate investment trust and other factors deemed relevant by OPI’s Board of Trustees in their 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 OPI’s filings with the Securities and Exchange Commission, or SEC, including under the caption “Risk Factors” in OPI’s periodic reports or incorporated therein, identifies important factors that could cause OPI’s actual results to differ materially from those stated or implied by OPI’s forward-looking statements. OPI’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, OPI 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/20221012006057/en/

Kevin Barry, Director, Investor Relations

(617) 219-1410

www.opireit.com

Source: Office Properties Income Trust

FAQ

What is the dividend amount for OPI in 2022?

Office Properties Income Trust announced a dividend of $0.55 per share for the quarter.

When is the dividend payment date for OPI?

The dividend will be paid on or about November 17, 2022.

How often does OPI pay dividends?

OPI typically pays dividends quarterly.

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

As of June 30, 2022, approximately 63% of OPI's revenues were from investment-grade rated tenants.