W. P. Carey Increases Quarterly Dividend by 24% and Announces Addition to FTSE EPRA/NAREIT Global Real Estate Index
Mar 14, 2013
NEW YORK, NY -- (Marketwire) -- 03/14/13 -- W. P. Carey Inc. (NYSE: WPC) announced today that its Board of Directors had increased the Company's first quarter 2013 cash dividend to $0.82 per share, which equates to an annualized rate of $3.28. Payable on April 15, 2013 to shareholders of record as of March 28, 2013, this marks W. P. Carey's 48th consecutive dividend increase and represents a 24% increase over the prior quarter.
W. P. Carey also reported that after market close on March 15, 2013 it will be added to the FTSE EPRA/NAREIT Global Real Estate Index.
Trevor P. Bond, President and CEO of W. P. Carey, commented, "Our ability to significantly increase our dividend along with the inclusion of W. P. Carey in the FTSE EPRA/NAREIT Global Real Estate Index is indicative of the benefits and recognition that have accrued following our conversion to REIT status and our significant increase in real estate under ownership as a result of the merger with CPA®:15. We are pleased to commence our fortieth year with these positive announcements as we continue to build on our history of providing stable dividends and value to our shareholders."
W. P. Carey Inc.
Celebrating its 40th anniversary, W. P. Carey Inc. is a publicly-traded REIT (NYSE: WPC) that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totaling approximately $14.1 billion. The largest owner/manager of net lease assets, WPC's corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Our portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows that have enabled the Company to deliver consistent and rising dividend income to investors for nearly four decades. www.wpcarey.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. The forward-looking statements include, among other things, statements regarding the intent, belief or expectations of W. P. Carey Inc. (the "Company") and can be identified by the use of words such as "may," "will," "should," "would," "assume," "outlook," "seek," "plan," "believe," "expect," "anticipate," "intend," "estimate," "forecast," and other comparable terms. These statements are based on the current expectations of the management of the Company. The statements of Mr. Trevor P. Bond are examples of forward-looking statements. A number of factors could cause the Company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the risks associated with the REIT conversion and the merger; general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the Company, reference is made to the Company's filings with the Securities and Exchange Commission (the "SEC"). Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. Except as required under the federal securities laws and the rules and regulations of the SEC, the Company does not undertake any obligation to release publicly any revisions to the forward-looking statements to reflect events or circumstances after the date of this communication or to reflect the occurrence of unanticipated events.
W. P. Carey Inc.
W. P. Carey Inc.
Ross & Lawrence
Source: W. P. Carey Inc.