This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

CapLease Updates Dividend Policy; Declares 8% Increase In Third Quarter Dividend

CapLease, Inc. (NYSE: LSE) today provided the following dividend updates.

Dividend Policy

The Company’s Board of Directors announced an increase in the Company’s quarterly dividend by 8% beginning with the third quarter of 2012 to $0.07 per share. That increase reflects the Company’s significant progress to date on its 2012 business plan including new investments added or committed of over $100 million and existing portfolio management activity highlighted by leasing progress at the three Nestlé properties and the extension and reduction of the related mortgage debt on those properties. The Board of Directors will continue to evaluate the Company’s dividend policy for the remainder of the year as the Company continues to implement its 2012 plan.

Mr. Paul McDowell, Chairman and Chief Executive Officer, stated, “We are pleased to announce the increase in our dividend which reflects the Company’s progress and achievements to date during 2012. Our dividend is well covered by existing operations and further by the recently announced investment transactions. We are optimistic that we will continue to grow the portfolio and generate strong cash flows for the remainder of 2012 and beyond.”

Third Quarter 2012 Dividends

Consistent with the foregoing dividend policy, the Company announced today that its Board of Directors has declared a cash dividend of $0.07 per share of common stock and per limited partnership unit for the third quarter of 2012.

The Company’s Board of Directors also declared a cash dividend of $0.5078125 per share of 8.125% Series A Cumulative Redeemable Preferred Stock (NYSE: LSEPrA), and a cash dividend of $0.5234375 per share of 8.375% Series B Cumulative Redeemable Preferred Stock (NYSE: LSEPrB) for the third quarter of 2012.

The third quarter 2012 common and the preferred dividends are payable on October 15, 2012 to stockholders of record as of September 28, 2012.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs