MINOT, N.D., Dec. 5, 2013 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (NYSE:IRET) announced today that its Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on January 15, 2014 to common shareholders and unitholders of record at the close of business on January 2, 2014.
This $0.1300 per common share/unit distribution will be the 171st consecutive quarterly distribution paid by IRET since its inception in 1970. The previous regular quarterly distribution, also of $0.1300 per common share/unit, was paid October 1, 2013.
Investors Real Estate Trust's Board of Trustees also declared on December 5, 2013 a distribution of $0.515625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (NYSE:IRET PR). This distribution will be payable December 31, 2013 to Series A preferred shareholders of record at the close of business on December 16, 2013. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share.
Also on December 5, 2013, the Board of Trustees declared a distribution of $0.496875 per share on the Company's 7.95% Series B Cumulative Redeemable Preferred Shares (NYSE: IRET PRB), payable December 31, 2013 to Series B preferred shareholders of record at the close of business on December 16, 2013. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.
About Investors Real Estate Trust
Investors Real Estate Trust is a self‐advised equity real estate investment trust. Its business consists of owning and operating income‐producing multi‐family residential and commercial properties located primarily in the upper Midwest states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and Omaha, Nebraska.
CONTACT: Lindsey Knoop Anderson Director of Investor Relations 1400 31st Ave SW, Suite 60 PO Box 1988 Minot, North Dakota 58702-1988 phone: 701.837.4738 fax: 701.838.7785 email:email@example.com
Source:Investors Real Estate Trust