BOSTON, Sept. 15 /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
September 30, 1999 of $0.34 per share of common stock, indicating an
annualized rate of $1.36, payable on October 27, 1999 to stockholders of
record on October 8, 1999.
The Board of Trustees also declared a dividend in the amount of $1.0781
per 8.625% Series B Preferred Unit, payable on September 30, 1999, to unit
holders of record on September 17, 1999. The Series B Preferred Units were
issued on April 29, 1999 and dividends are cumulative and payable quarterly at
an annualized rate of $4.3125 per share.
The Board of Trustees also declared a dividend in the amount of $0.5331
per 8.625% Series C Preferred Unit, payable on December 1, 1999, to unit
holders of record on November 17, 1999.
The Series C Preferred Units were issued on September 3, 1999 and
dividends are cumulative and payable quarterly at an annualized rate of
$2.15625 per share.
Cabot Industrial Trust is a fully integrated real estate company that
specializes in the ownership, acquisition and development of industrial
properties with 267 properties containing 32 million square feet in 22 states
at June 30, 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
CONTACT:
Franz Colloredo-Mansfeld, Chief Financial
Officer of Cabot Industrial Trust, 617-723-0900
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