Kite Realty Group Trust (NYSE: KRG) (the “Company”) announced today that the Board of Trustees declared an increase to its quarterly cash distribution for the quarter ended March 31, 2014 to $0.065 per common share, representing a 8.3 percent increase over its previous quarterly distribution. This distribution will be paid to shareholders of record as of April 7, 2014 on or about April 14, 2014.
“We are pleased to announce an increase in our dividend to an annualized rate of $0.26 per share which reflects the increased cash flow from recently completed high-quality developments and redevelopments, the acquisition of an unencumbered nine property portfolio, and solid growth in same-property operating income," said John A. Kite, the Company’s Chairman and Chief Executive Officer.
About Kite Realty Group Trust
Kite Realty Group Trust is a full-service, vertically integrated real estate investment trust engaged in the ownership, operation, management, leasing, acquisition, construction, redevelopment and development of neighborhood and community shopping centers in selected markets in the United States. At December 31, 2013, the Company owned interests in a portfolio of 72 operating and redevelopment properties totaling approximately 12.4 million square feet and two properties currently under development totaling 0.8 million square feet.