Brandywine Realty Trust Announces Common Quarterly Dividend, Provides Rent Receipts Update and Confirms Second Quarter 2020 Earnings Release and Conference Call

PHILADELPHIA, May 20, 2020 (GLOBE NEWSWIRE) -- Brandywine Realty Trust (NYSE:BDN) announced today that its Board of Trustees has declared a quarterly cash dividend of $0.19 per common share and OP Unit payable on July 22, 2020 to holders of record on July 8, 2020.  The quarterly dividend is equivalent to an annual rate of $.76 per share.

April and May Collections Update

“We took early action to mitigate the potential impacts and risks of COVID-19, and continue to assess the ongoing effects to our business plan and our tenants,” stated Gerard H. Sweeney, President and Chief Executive Officer of Brandywine Realty Trust.  “The safety and wellbeing of our employees and tenants has remained our top priority.  We are focused on the safe return to the workplace and have designed a multi-faceted program which includes upgraded building systems, enhanced cleaning protocols in accordance with CDC guidelines, increased health and safety training of personnel, and safe distancing protocols and directional signage.  We continue a robust two-way dialogue with our tenants to proactively meet unique needs, and have designed a variety of tools to help tenants and their employees prepare for their safe return, including our property-by-property “Safe & Smooth Return to the Office Handbook” and Building Safety instructional videos.  This unique circumstance has underscored Brandywine’s dedication to being a strategic workplace partner as we continue to provide a myriad of solutions and resources to our tenants – from COVID-19 space planning expertise, to forthcoming virtual health and wellness classes.  Where appropriate, we have provided limited rent deferrals and, to date, the financial impact to Brandywine has not been material and overall rent collections continue to be strong.”

The following is an update of our April and May 2020 consolidated cash-based rent collections as of May 18, 2020:

• April Collections:  Overall, we have now received 99% of April rents.
• May Collections:  We have received 96% of May rents which includes a 97% collection rate from our office tenants.

Conference Call and Audio Webcast

We will release our second quarter earnings after the market close on Wednesday, July 22, 2020, and will hold our second quarter conference call on Thursday, July 23, 2020 at 9:00 a.m. Eastern.  The conference call can be accessed by dialing 1-833-818-6810 and providing conference ID: 1490094.  Beginning two hours after the conference call, a taped replay of the call can be accessed through Friday, August 7, 2020, by calling 1-855-859-2056 and entering access code 1490094.  The conference call can also be accessed via a webcast on our website at www.brandywinerealty.com.