NEW YORK, NY -- (MARKET WIRE) -- 12/10/09 --
Investment firm W. P. Carey & Co. LLC (NYSE: WPC) announced today that its Board of Directors has increased the
Company's quarterly cash distribution to $0.502 per share for the quarter
ending December 31, 2009, marking the Company's 35th consecutive
distribution increase. In addition, the Company announced that the Board
declared a special distribution of $0.30 per share. Both distributions are
payable on January 15, 2010 to shareholders of record as of December 31,
2009.
Commenting on the special distribution, President and CEO Gordon F. DuGan
stated, "During the year, we took steps towards developing a more efficient
long-term tax structure. Since these steps resulted in increased taxable
income to our shareholders in 2009, we feel that a special distribution is
appropriate in this instance."
The Boards of Directors of W. P. Carey's CPA® REIT investment programs
announced the following cash distributions for the fourth quarter of 2009,
payable on January 15, 2010 to shareholders of record as of December 31,
2009:
-- CPA®:14's cash distribution increased to $0.1991 per share, equating
to an annualized yield of 8.34%.
-- CPA®:15's cash distribution increased to $0.1804 per share, equating
to an annualized yield of 7.27%.
-- CPA®:16 - Global's cash distribution remained at $0.1656 per share,
equating to an annualized yield of 6.62%.
-- CPA®:17 - Global's daily distribution for the fourth quarter, as
announced on September 17, 2009, is $0.00173913 per share, payable to
shareholders of record as of the close of business on each day during the
quarter and to be paid in aggregate on January 15, 2010. This equates to
an annualized yield of 6.40% on its initial public offering price of $10.00
per share.
The Board of Directors of CPA®:17 - Global announced that the first
quarter 2010 annualized yield will remain at 6.40% on its initial public
offering price of $10.00 per share. The daily distribution rate of
$0.0017778 per share is payable to shareholders of record as of the close
of business on each day during the quarter and will be paid in aggregate on
or about April 15, 2010.
W. P. Carey & Co. LLC
W. P. Carey & Co. LLC is an investment management company that provides
long-term sale-leaseback and build-to-suit financing for companies
worldwide and manages a global investment portfolio approaching $10
billion. Publicly traded on the New York Stock Exchange (WPC), W. P. Carey
and its CPA® series of income-generating, non-traded REITs help companies
and private equity firms unlock capital tied up in real estate assets. The
W. P. Carey Group's investments are highly diversified, comprising
contractual agreements with approximately 300 long-term corporate obligors
spanning 28 industries and 15 countries. http://www.wpcarey.com
Individuals interested in receiving future updates on W. P. Carey via
e-mail can register at http://www.wpcarey.com/alerts.
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.
COMPANY CONTACT:
Kristina McMenamin
W. P. Carey & Co. LLC
212-492-8995
Email Contact
PRESS CONTACT:
Guy Lawrence
Ross & Lawrence
212-308-3333
Email Contact