Office Properties Income Trust Announces Quarterly Dividend on Common Shares
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 April 25, 2022 and distributed on or about May 19, 2022.
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 December 31, 2021, approximately 62% of OPI’s revenues were from investment grade rated tenants. OPI owned and leased more than 170 properties as of December 31, 2021, with over 23 million square feet located in 33 states and Washington, D.C. In 2021, OPI was named as an Energy Star® Partner of the Year for the fourth consecutive year, and a Green Lease Leader. OPI is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $37 billion in assets under management 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 www.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. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward looking statements in this press release. Except as required by law, OPI does not intend to update 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/20220413006047/en/
Kevin Barry, Director, Investor Relations
(617) 219-1410
www.opireit.com
Source: Office Properties Income Trust
Office Properties Income Trust
Symbol: OPI
Exchange: NASDAQ
Founded: 2019 (5 years)
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Micro-Cap
REIT Sector: Office
Externally Managed REIT
REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score.
Latest Price: $1.99
Previous Close: $1.99
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52-Week High: $7.42
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Last updated: 2024-12-21 - v1.3