DCT Industrial Trust ® (NYSE: DCT), a leading industrial real estate company, today announced that its Board of Directors approved a reverse stock split of the Company's outstanding shares of common stock at a ratio of 1-for-4. The reverse stock split is expected to take effect at about 5:00 p.m. Eastern time on November 17, 2014 (the "Effective Time"). Accordingly, at the Effective Time, every four issued and outstanding shares of common stock will be converted into one share of common stock. In addition, at the market open on November 18, 2014, the common stock will be assigned a new CUSIP number: 233153 204. As a result of the reverse stock split, the number of outstanding shares of common stock of the Company will be reduced from approximately 338.1 million to approximately 84.5 million. The Company expects that a corresponding adjustment will be made to its quarterly dividend. The amount of any future dividends payable by the Company will be determined by and are at the discretion of the Company's Board of Directors. No fractional shares will be issued in connection with the reverse stock split. Instead, each stockholder holding fractional shares will be entitled to receive, in lieu of such fractional shares, cash in an amount determined on the basis of the average closing price of the Company's common stock on the New York Stock Exchange for the three consecutive trading days ending on November 17, 2014. The reverse stock split will apply to all of the Company's outstanding shares of common stock. Stockholders of record will be receiving information from Computershare, the Company's transfer agent, regarding their stock ownership following the reverse stock split and cash in lieu of fractional share payments, if applicable. About DCT Industrial Trust® DCT Industrial Trust is a leading industrial real estate company specializing in the acquisition, development, leasing and management of bulk distribution and light industrial properties in high-volume distribution markets in the U.S. As of June 30, 2014, the Company owned interests in approximately 74.0 million square feet of properties leased to approximately 900 customers, including 8.6 million square feet operated on behalf of four institutional capital management partners. DCT maintains a Baa2 rating from Moody's Investors Service and a BBB- from Standard & Poor's Rating Services. Additional information is available at www.dctindustrial.com. Click here to subscribe to Mobile Alerts for DCT Industrial.
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