Office Properties Income Trust Announces Quarterly Dividend on Common Shares

Rhea-AI Summary

Office Properties Income Trust (Nasdaq: OPI) has announced its regular quarterly cash distribution of $0.01 per common share. This equates to an annual distribution of $0.04 per share. The dividend will be paid to shareholders of record as of July 22, 2024, with the payment date set for August 15, 2024.

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• None.

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• The quarterly dividend has been reduced to $0.01 per common share, which totals an annual distribution of only $0.04 per share, potentially reflecting financial constraints or lower earnings.

NEWTON, Mass.--(BUSINESS WIRE)-- Office Properties Income Trust (Nasdaq: OPI) today announced a regular quarterly cash distribution on its common shares to $0.01 per common share ($0.04 per share per year). This distribution will be paid to OPI’s common shareholders of record as of the close of business on July 22, 2024 and distributed on or about August 15, 2024.

About Office Properties Income Trust

OPI is a national REIT focused on owning and leasing office properties to high credit quality tenants in markets throughout the United States. As of March 31, 2024, approximately 62% of OPI's revenues were from investment grade rated tenants. OPI owned and leased 151 properties as of March 31, 2024, with approximately 20.3 million square feet located in 30 states and Washington, D.C. In 2024, OPI was named as an Energy Star® Partner of the Year for the seventh consecutive year. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $41 billion in assets under management as of March 31, 2024, 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:

In this press release, OPI states that its regular quarterly cash distribution rate is $0.01 per share per quarter or $0.04 per share per year. 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.

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/20240710501357/en/

Kevin Barry, Senior Director, Investor Relations

(617) 219-1410

Source: Office Properties Income Trust

FAQ

What is the latest dividend announcement from Office Properties Income Trust (OPI)?

Office Properties Income Trust (Nasdaq: OPI) announced a quarterly cash dividend of $0.01 per common share.

When is the record date for OPI's latest dividend?

The record date for OPI's latest dividend is July 22, 2024.

How much is OPI's annual dividend per common share?

OPI's annual dividend per common share is $0.04.

When will OPI's latest dividend be paid?

OPI's latest dividend will be paid on or about August 15, 2024.

Has OPI's dividend changed recently?

Yes, OPI's quarterly dividend has been reduced to $0.01 per common share.