CommonWealth REIT (NYSE: CWH) today announced its regular quarterly common and preferred dividends as follows:
A regular quarterly common dividend of $0.25 per Common Share will be paid with respect to the results of operations for the quarter ended December 31, 2013, to holders of record of Common Shares as of the close of business on January 13, 2014, and will be distributed on or about February 21, 2014.
Series D Preferred DividendsA distribution of $0.4063 per Series D Cumulative Convertible Preferred Share will be paid on or about February 18, 2014, to holders of record of Series D Preferred Shares at the close of business on February 1, 2014. Series E Preferred Dividends A distribution of $0.4531 per Series E Cumulative Redeemable Preferred Share will be paid on or about February 18, 2014, to holders of record of Series E Preferred Shares at the close of business on February 1, 2014. CommonWealth REIT is a real estate investment trust, or REIT, which primarily owns office properties located throughout the United States. CWH is headquartered in Newton, Massachusetts. 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 CWH’S PRESENT BELIEFS AND EXPECTATIONS, BUT THESE STATEMENTS ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS, SOME OF WHICH ARE BEYOND CWH’S CONTROL. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT CWH HAS DECLARED A REGULAR QUARTERLY COMMON SHARE DIVIDEND OF $0.25/SHARE. AN IMPLICATION OF THIS STATEMENT MAY BE THAT CWH WILL CONTINUOUSLY PAY QUARTERLY COMMON SHARE DIVIDENDS OF $0.25/SHARE PER QUARTER OR $1.00/SHARE PER YEAR. CWH’S COMMON SHARE DIVIDEND RATES ARE SET AND RESET FROM TIME TO TIME BY THE CWH BOARD OF TRUSTEES. THE CWH BOARD CONSIDERS MANY FACTORS WHEN SETTING COMMON DIVIDEND RATES INCLUDING CWH’S HISTORICAL AND PROJECTED INCOME, NORMALIZED FUNDS FROM OPERATIONS, THE THEN CURRENT AND EXPECTED NEEDS AND AVAILABILITY OF CASH TO PAY CWH’S OBLIGATIONS, DIVIDENDS WHICH MAY BE REQUIRED TO BE PAID TO MAINTAIN CWH’S TAX STATUS AS A REAL ESTATE INVESTMENT TRUST, THE REQUIREMENTS OF CWH’S CONTRACTUAL OBLIGATIONS (INCLUDING PROHIBITIONS IN CWH’S DEBT OBLIGATIONS WHICH PROHIBIT THE PAYMENT OF CWH’S DIVIDEND AFTER EVENTS OF DEFAULT OR OTHER CIRCUMSTANCES) AND OTHER FACTORS. ACCORDINGLY, FUTURE COMMON SHARE DIVIDEND RATES MAY BE INCREASED, DECREASED OR ELIMINATED AND THERE IS NO ASSURANCE AS TO THE RATE AT WHICH FUTURE COMMON 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. ALSO, EXCEPT AS REQUIRED BY LAW, CWH DOES NOT INTEND TO UNDERTAKE ANY DUTY TO UPDATE ANY FORWARD LOOKING STATEMENT IN THIS PRESS RELEASE AS A RESULT OF FUTURE EVENTS OR NEW INFORMATION.