Whitestone REIT Declares Third Quarter 2020 Dividends and Provides a Rental Collections Update

Nachrichtenquelle: globenewswire
16.06.2020, 13:00  |  151   |   |   

HOUSTON, June 16, 2020 (GLOBE NEWSWIRE) -- Whitestone REIT’s (NYSE:WSR) (“Whitestone” or the “Company”) Board of Trustees has declared a monthly cash dividend of  $0.035 per share on the Company’s common shares and operating partnership units. The dividend amount of $0.035 per share represents a quarterly amount of $0.105, and an annualized amount of $0.42 per share. The third quarter dividend distribution for 2020 will be as detailed below:

Month   Record Date    Payment Date 
July   7/02/2020   7/10/2020
August   8/04/2020   8/13/2020
September   9/01/2020   9/10/2020
         

Jim Mastandrea, Chairman and Chief Executive Officer, commented, “We are pleased to announce Whitestone’s 119th, 120th, and 121st consecutive monthly dividend distributions. In an environment where many public companies are having difficulty collecting rent during the pandemic and are suspending dividends, Whitestone continues to lead the public shopping center REITs with 89% in rental collections for the month of April, 75% for the month of May, and 63% to date in June through June 15th.” Mr. Mastandrea added, “To give further clarity as to the collections trends we are seeing, May collections are running 5% higher than April and June collections are running 11% higher than May collections.”

Mr. Mastandrea concluded, “This declaration of our third quarter dividend exemplifies Whitestone’s confidence in our operations and our commitment to sustaining monthly cash flow for our shareholders during these uncertain times.”

About Whitestone REIT

Whitestone is a community-centered retail REIT that acquires, owns, manages, develops and redevelops high quality "e-commerce resistant" neighborhood, community and lifestyle retail centers principally located in the largest, fastest-growing and most affluent markets in the Sunbelt. Whitestone's optimal mix of national, regional and local tenants provide daily necessities, needed services and entertainment to the communities in which they are located. Whitestone's properties are primarily located in business-friendly Phoenix, Austin, Dallas-Fort Worth, Houston and San Antonio, which are among the fastest growing U.S. population centers with highly educated workforces, high household incomes and strong job growth. Visit www.whitestonereit.com for additional information.

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