MINOT, N.D., Sept. 4, 2013 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (NYSE:IRET) (NYSE:IRET PR) (NYSE:IRET PRB) announced today that its Board of Trustees has declared a regular quarterly distribution of $0.1300 per share/unit payable on October 1, 2013 to common shareholders and unitholders of record at the close of business on September 16, 2013.
This $0.1300 per common share/unit distribution will be the 170th 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 July 1, 2013.
Investors Real Estate Trust's Board of Trustees also declared on September 4, 2013 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 September 30, 2013 to Series A preferred shareholders of record at the close of business on September 16, 2013. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share.
Also on September 4, 2013, 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 September 30, 2013 to Series B preferred shareholders of record at the close of business on September 16, 2013. Series B preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.9875 per share.
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.