NEW YORK, NY – September 15, 2000 – W. P. Carey & Co. LLC (NYSE: WPC), today announced its Board of Directors has declared a quarterly cash dividend of $0.4225 per common share (on an annualized basis, $1.69 per share), its third quarterly dividend at the same rate. The dividend will be payable on October 15, 2000 to shareholders of record on September 29, 2000. Since the Company became public in January 1998, approximately $110 million has been paid out in dividends to shareholders.
In announcing the dividend, Wm. Polk Carey, Chairman of W. P. Carey, commented, "As part of our time proven philosophy, we are focused on delivering rising current and consistent investment performance for W. P. Carey's shareholders. I am pleased to say that we continue to meet our objectives."
Founded in 1973, W. P. Carey & Co. specializes in corporate real estate financing using the corporate net-lease, or sale-leaseback structure. The firm, including affiliates, is one of leading lessors of net-leased corporate real estate in the nation. W. P. Carey & Co., the world's largest publicly traded Limited Liability Company, owns and manages over 38 million square feet of property in the U.S. and Europe. Additional information about W. P. Carey & Co. is available on the company's website: www.wpcarey.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the company, reference is made to the company's filings with the Securities and Exchange Commission.