Select Income REIT (NYSE: SIR) today announced it has raised its regular quarterly common distribution by $0.02 to $0.46 per common share ($1.84 per share per year). This distribution will be paid to holders of record of common shares as of the close of business on October 24, 2013, and will be distributed on or about November 20, 2013.
Select Income REIT is a real estate investment trust, or REIT, which owns properties that are primarily net leased to single tenants. SIR is headquartered in Newton, MA.
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 SIR'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 SIR'S CONTROL. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT SIR'S REGULAR QUARTERLY COMMON DIVIDEND RATE WILL BE $0.46 PER SHARE PER QUARTER OR $1.84 PER SHARE PER YEAR. A POSSIBLE IMPLICATION OF THIS STATEMENT IS THAT SIR WILL CONTINUOUSLY PAY QUARTERLY DIVIDENDS OF $0.46 PER SHARE PER QUARTER OR $1.84 PER SHARE PER YEAR IN THE FUTURE. SIR'S DIVIDEND RATES ARE SET AND RESET FROM TIME TO TIME BY SIR'S BOARD OF TRUSTEES. THE SIR BOARD CONSIDERS MANY FACTORS WHEN SETTING DIVIDEND RATES INCLUDING SIR'S HISTORICAL AND PROJECTED INCOME, NORMALIZED FUNDS FROM OPERATIONS, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY SIR'S OBLIGATIONS, DISTRIBUTIONS WHICH MAY BE REQUIRED TO BE PAID TO MAINTAIN SIR'S TAX STATUS AS A REAL ESTATE INVESTMENT TRUST AND OTHER FACTORS DEEMED RELEVANT BY SIR'S BOARD OF TRUSTEES IN THEIR DISCRETION. ACCORDINGLY, FUTURE DIVIDEND RATES MAY BE INCREASED, DECREASED OR EVEN ELIMINATED, 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.