MINOT, N.D., March 5, 2014 (GLOBE NEWSWIRE) -- Investors Real Estate Trust (NYSE:IRET) (NYSE:IRET PR) (NYSE:IRET PRB) announced today that its Board of Trustees declared on March 4, 2014, a regular quarterly distribution of $0.1300 per share/unit payable on April 1, 2014 to common shareholders and unitholders of record at the close of business on March 17, 2014.
This $0.1300 per common share/unit distribution will be the 172nd 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 January 15, 2014.
Investors Real Estate Trust's Board of Trustees also declared a distribution on March 4, 2014, of $0.515625 cents per share on the Company's Series A Cumulative Redeemable Preferred Shares (NYSE:IRET PR). This distribution will be payable March 31, 2014 to Series A preferred shareholders of record at the close of business on March 17, 2014. Series A preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $2.0625 per share.
Also on March 4, 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 March 31, 2014 to Series B preferred shareholders of record at the close of business on March 17, 2014. 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 a self‐advised 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 states of Minnesota and North Dakota. Investors Real Estate Trust is based in Minot, North Dakota, and has additional offices in Minneapolis, Minnesota and St. Cloud, Minnesota.