Common Share Dividend Increases to $0.45, or $1.80 Per Year
NEWTON, Mass.--(BUSINESS WIRE)--The RMR Group Inc . (Nasdaq: RMR) today announced it has raised its regular quarterly cash distribution on its shares of Class A Common Stock and Class B-1 Common Stock to $0.45 per share ($1.80 per share per year), representing a 12.5% increase over last quarter's cash distribution of $0.40 per share. This distribution will be paid to RMR's shareholders of record as of the close of business on April 22, 2024 and distributed on or about May 16, 2024.
About The RMR Group (NASDAQ:RMR)
The RMR Group is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR's vertical integration is supported by over 1,100 real estate professionals in more than 35 offices nationwide who manage more than $41 billion in assets under management and leverage more than 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of direct real estate strategies across its clients. RMR is headquartered in Newton, MA and was founded in 1986. For more information, please visit www.rmrgroup.com.
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 RMR's present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond RMR's control.
For example, this press release states that RMR's quarterly distribution will be $0.45 per share ($1.80 per share per year) on RMR Class A Common Stock and Class B-1 Common Stock. A possible implication of this statement is that RMR will continuously pay quarterly distributions of $0.45 per share per quarter or $1.80 per share per year in the future. RMR's distribution rates are set and reset from time to time by RMR's Board of Directors. The RMR Board of Directors considers many factors when setting distribution rates including RMR's current and expected earnings, commitments to fund its investments and the availability of cash to fund distributions as compared to alternative uses of such cash. Accordingly, future distribution rates may be increased or decreased and there is no assurance as to the rate at which future distributions will be declared and paid.
For these reasons, among others, investors are cautioned not to place undue reliance upon any forward looking statements in this press release. Except as required by law, RMR does not intend to update or change any forward looking statements as a result of new information, future events, or otherwise.
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Kevin Barry, Senior Director, Investor Relations
(617) 796-8230
Source: The RMR Group Inc.