Company Release – 4/30/2020 7:30 AM ET
– Increases Quarterly Dividend 18% to $0.20 per Share –
CEDARHURST, N.Y.–(BUSINESS WIRE)– Postal Realty Trust, Inc. (NYSE:PSTL) (the “Company”), an internally managed real estate investment trust that owns properties leased to the United States Postal Service (the “USPS”), announced today its board of directors has approved a quarterly dividend on the Company’s Class A common stock in the amount of $0.20 per share representing an 18% increase over the previous declared dividend of $0.17 per share. The dividend will be payable on May 29, 2020 to stockholders of record as of the close of business on May 11, 2020.
Andrew Spodek, Chief Executive Officer stated, “We are pleased to announce our third dividend increase since our IPO. The Board has approved these increases as we have grown our portfolio and increased cash flow. As we continue to scale our business, we have the confidence that our dividend remains covered by rents that are backed by an agency of the United States Government. We believe that the financial strength of this tenant and the prudence of our dividend policy drives shareholder value in both stable as well as volatile market conditions.”
About Postal Realty Trust, Inc.
Postal Realty Trust, Inc. is an internally managed real estate investment trust that owns properties leased to the United State Postal Service. The Company believes it is one of the largest owners and managers measured by net leasable square footage of properties that are leased to the USPS.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements.” Forward-looking statements include statements that are based on various assumptions (some of which are beyond our control) and may be identified by words such as “could,” “may,” “might,” “will,” “likely,” “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “continues,” “projects” and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including statements regarding the Company’s ability to close on any pending transactions on the terms or timing it expects, if at all, are based on the Company’s current expectations and assumptions regarding capital market conditions the Company’s business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company’s actual results may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the USPS’s terminations or non-renewals of leases, changes in demand for postal services delivered by the USPS, the solvency and financial health of the USPS, competitive, financial market and regulatory conditions, general real estate market conditions, the Company’s competitive environment and other factors set forth under “Risk Factors” in the Company’s filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
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Source: Postal Realty Trust, Inc.