DENVER, Dec. 8, 2014 (GLOBE NEWSWIRE) -- Dividend Capital Diversified Property Fund Inc. ("DPF"), a public reporting, daily NAV REIT (Nasdaq:ZDPFEX) (Nasdaq:ZDPFAX) (Nasdaq:ZDPFWX) (Nasdaq:ZDPFIX), announced today that its Board of Directors authorized for each class of common stock a dividend of $0.09 per share, subject to adjustment for class-specific expenses, for the quarter ending March 31, 2015, a 2.9% increase from the prior quarterly dividend of $0.0875 per share, subject to adjustment for class-specific expenses. The dividend will be payable to stockholders of record as of the close of business on each day during the period from January 1, 2015 to March 31, 2015, pro-rated for the period of ownership. The dividend will accrue daily and be paid no later than April 30, 2015.
"We are pleased with today's announcement. The consistent performance of our portfolio, coupled with our strong balance sheet, allowed us to increase the dividend while balancing our objective to retain earnings to promote longer-term total shareholder return," said Jeff Johnson, Chief Executive Officer of DPF.
The amount of dividends DPF pays to its stockholders is determined by DPF's board of directors, at its discretion, on a quarterly basis, and is dependent on a number of factors including funds available for the payment of dividends, DPF's financial condition, capital expenditure requirements and annual distribution requirements needed to maintain DPF's status as a real estate investment trust under the Internal Revenue Code. The dividend increase is based in part on the recent performance of DPF's portfolio, which cannot be used as an indicator of future performance. DPF's board of directors may reduce the dividend rate and DPF cannot guarantee the amount of distributions paid in the future, if any.
About Dividend Capital Diversified Property Fund
Dividend Capital Diversified Property Fund is a public reporting, daily NAV vehicle based in Denver, CO that invests in a diversified portfolio of commercial real estate assets. DPF owned 69 properties totaling approximately 12.0 million square feet in 24 geographic markets as of September 30, 2014. More information is available at www.dividendcapitaldiversified.com.
Forward-Looking Information
This material contains forward-looking statements that are based on management's current expectations, plans, estimates, assumptions and beliefs that involve numerous risks and uncertainties, including, without limitation, the uncertainty of funding Dividend Capital Diversified Property Fund's future capital needs, delays in the acquisition, development, and construction of real properties, changes in economic conditions generally and the real estate and securities markets specifically, uncertainties as to future dividend levels, and other risks detailed from time to time in Dividend Capital Diversified Property Fund's Securities and Exchange Commission reports, particularly the section entitled "Risk Factors" in Item 1A of the DPF's Annual Report on Form 10-K. Any of these forward-looking statements could be inaccurate, and actual events or investments and results of operations could differ materially from those expressed or implied. Such forward-looking statements pertain only as of the date of this press release. Dividend Capital Diversified Property Fund expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in DPF's expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.