MINOT, N.D., June 2, 2014 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (NYSE:IRET) announced today that its Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on July 1, 2014 to common shareholders and unitholders of record at the close of business on June 16, 2014.
This $0.1300 per common share/unit distribution will be the 173rd consecutive quarterly distribution paid by IRET since its inception in 1970. The previous regular quarterly distribution, also of $0.1300 per common share/unit, was paid April 1, 2014.
Investors Real Estate Trust'sBoard of Trustees also declared on June 2, 2014 a distribution of $0.515625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (NYSE:IRET PR). This distribution will be payable June 30, 2014 to Series A preferred shareholders of record at the close of business on June 16, 2014. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share.
Also on June 2, 2014, the Board of Trustees declared a distribution of $0.496875 per share on the Company's 7.95% Series B Cumulative Redeemable Preferred Shares (NYSE:IRET PRB), payable June 30, 2014 to Series B preferred shareholders of record at the close of business on June 16, 2014. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.
Investors Real Estate Trust also announced that its Board of Trustees has scheduled the Company's 2014 Annual Meeting of Shareholders for Tuesday, September 16, 2014, at 7:00 p.m. CDT at the Grand Hotel, 1505 North Broadway, Minot, North Dakota. The record date for determination of the common shareholders entitled to vote at the meeting has been set at the close of business on July 18, 2014.
About Investors Real Estate Trust
Investors Real Estate Trust is an equity real estate investment trust. Its business consists of owning and operating income-producing multi-family residential and commercial properties located primarily in the upper Midwest. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis and St. Cloud, Minnesota.
CONTACT: Lindsey Knoop Anderson
Director of Investor Relations
1400 31st Ave SW, Suite 60
PO Box 1988
Minot, North Dakota 58702-1988
Source: Investors Real Estate Trust