Equity Commonwealth (NYSE: EQC) announced today that its Board of Trustees has declared a special, one-time cash distribution of $2.50 per common share which will be paid on October 23, 2018 to shareholders of record on October 9, 2018.
The company also announced today that its Board of Trustees has declared a quarterly dividend of $0.40625 per series D preferred share which will be paid on November 15, 2018 to shareholders of record on October 29, 2018 for the period from August 15, 2018 through November 14, 2018.
The company currently expects the tax character of the distributions on the common shares and series D preferred shares during 2018 to be treated largely as ordinary dividends. The company cannot provide any assurances that its current expectations will prove to be accurate. The actual tax characterization will be based on the companys results of operations for the full year 2018. The company currently expects to announce the actual tax characterization of the 2018 distributions with its normal tax reporting in January 2019.
About Equity Commonwealth
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Equity Commonwealth (NYSE: EQC) is a Chicago based, internally managed and self-advised real estate investment trust (REIT) with commercial office properties in the United States. As of September 20, 2018, EQCs portfolio comprised 11 properties and 5.4 million square feet.
Regulation FD Disclosures
We intend to use any of the following to comply with our disclosure obligations under Regulation FD: press releases, SEC filings, public conference calls, or our website. We routinely post important information on our website at www.eqcre.com, including information that may be deemed to be material. We encourage investors and others interested in the company to monitor these distribution channels for material disclosures.
This press release may contain forward-looking statements and information within the meaning of the federal securities laws. These statements, including statements relating to the expected tax treatment of distributions, are based on current expectations, estimates, projections and assumptions made by management. While Equity Commonwealth management believes the assumptions underlying its forward-looking statements are reasonable, such information is inherently subject to uncertainties and may involve certain risks. Other risks and uncertainties are described under the heading Risk Factors in our Annual Report on Form 10-K and subsequent periodic reports filed with the Securities and Exchange Commission (SEC) and available on our website, www.eqcre.com. Many of these uncertainties and risks are difficult to predict and beyond managements control. Forward-looking statements are not guarantees of future performance, results or events. Equity Commonwealth assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.