BOSTON, March 8 /PRNewswire/ -- Cabot Industrial Trust (NYSE: CTR), a
national developer, owner and operator of industrial property, today announced
that the Board of Trustees has declared a dividend for the quarter ended March
31, 2000 of $0.355 per share of common stock, indicating an annualized rate of
$1.42, payable on April 28, 2000 to stockholders of record on April 10, 2000.
This dividend rate is an increase of 4.4% versus the annualized rate for 1999.
( Photo: http://www.newscom.com/cgi-bin/prnh/20000218/CABOTLOGO )
The Board of Trustees also declared dividends on Cabot's 8.625% Series B
Preferred Units, its 8.625% Series C Preferred Units, its 8.375% Series D
Preferred Units, its 8.375% Series E Preferred Units and its 8.5% Series F
Preferred Units.
Additionally, Cabot announced that it has implemented a Dividend
Reinvestment and Share Purchase Plan (the "Plan"). The Plan offers
shareholders, as well as potential investors, the opportunity to invest in
Cabot's common shares more economically and conveniently than ever before.
The highlights of the Plan are as follows:
-- All shareholders can put their investment dollars to work by
automatically reinvesting all or a portion of their cash dividends into
additional CTR common shares;
-- New investors have the opportunity to purchase common shares with a
minimum $200 investment; and
-- Existing shareholders may purchase additional common shares with a $50
to $5,000 investment in any month.
Cabot Industrial Trust reserves the right to amend, modify, suspend or
terminate the Plan at any time. This announcement is neither an offer to
sell, nor a solicitation of offers to buy, any of these securities. The offer
is made only by the Prospectus relating to the Plan. Shareholders and others
may obtain a Plan Prospectus and enrollment form by contacting the Plan
Administrator, EquiServe, at 1-877-228-7006, or Cabot's Investor Relations at
617-367-4429.
Cabot Industrial Trust is a fully integrated real estate company that
specializes in the ownership, acquisition and development of industrial
properties with 320 properties containing 38 million square feet in 22 states
at December 31, 1999. The Company also manages an additional 10 million
square feet of property for investment advisory accounts. Cabot Industrial
Trust focuses on a broad spectrum of industrial property types nationwide,
including large bulk distribution facilities, multitenant distribution
facilities and workspace properties.
In addition to historical information, this press release contains
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are based on management's
current expectations about the industry and the markets in which the Company
operates. Such forward-looking statements are not guarantees of future
performance and involve known and unknown risks, uncertainties or other
factors which may cause actual results, performance or achievements of the
Company to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Actual
operating results may be affected by various factors including, without
limitation, changes in national and local economic conditions, competitive
market conditions, uncertainties and costs related to and the imposition of
conditions on receipt of governmental approvals and costs of material and
labor, all of which may cause such actual results to differ materially from
what is expressed or forecast in this press release.
To receive Cabot Industrial Trust's latest news release and other
corporate documents please send requests via e-mail at ir@cabottrust.com or
visit our web-site at http://www.cabottrust.com.
SOURCE Cabot Industrial Trust
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Related links:
http://www.cabottrust.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20000218/CABOTLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 201-369-3467
CONTACT:
Franz Colloredo-Mansfeld, Chief Financial
Officer of Cabot Industrial Trust, 617-723-0900
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