DENVER, July 07, 2017 (GLOBE NEWSWIRE) -- Dividend Capital Diversified Property Fund Inc. (“DPF”), a public reporting, 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 $0.03 per share, subject to adjustment for class-specific expenses, for the month ending July 31, 2017 (the “July Dividend”).

The July Dividend will be payable to stockholders of record as of the close of business on each day during the period from July 1, 2017 to July 31, 2017, pro-rated for the period of ownership.  The dividend will accrue daily and be paid no later than August 31, 2017.

As previously disclosed, our board of directors has approved and submitted to our stockholders for their approval a proposal (the “Proposal”) to amend our charter to restructure our share classes as part of a broader restructuring (the “Proposed Restructuring”). For more information about the Proposal and the Proposed Restructuring, please refer to the definitive proxy statement for the 2017 annual meeting of stockholders, which was filed with the Securities and Exchange Commission on June 6, 2017 and is also available on our website at www.dividendcapitaldiversified.com.

If the Proposal is approved by the stockholders on July 26, 2017, the Company expects that the board of directors will formally approve and implement the Proposed Restructuring effective as of August 1, 2017. We expect that on or about August 1, 2017, we will, among other things, implement our new distribution reinvestment plan. We currently expect that commencing in August, monthly distributions will accrue on single record dates and be paid monthly. We expect to declare dividends for the months of August and September on or about July 31, 2017. However, there can be no assurances that the stockholders will approve the proposed charter amendment on July 26, 2017, or at all, and if approved, the implementation of the Proposed Restructuring may be delayed or may not be approved by our board of directors at all.

On March 22, 2017, DPF’s 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 June 30, 2017.  The dividend will be paid according to the table below on July 17, 2017 to stockholders of record as of the close of business on each day during the period from April 1, 2017 to June 30, 2017, pro-rated for the period of ownership.

¹ DPF pays its dealer manager (1) a dealer manager fee equal to 1/365^th of 0.60% of the NAV per share, and (2) a distribution fee equal to 1/365^th of 0.50% of the NAV per share, for Class A shares each day.  These expenses are allocated to Class A stockholders and reduce the dividend otherwise payable to Class A stockholders.

² DPF pays its dealer manager a dealer manager fee equal to 1/365^th of 0.60% of NAV per share for Class W shares each day.  This expense is allocated to Class W stockholders and reduces the dividend otherwise payable to Class W stockholders.

³ DPF pays its dealer manager a dealer manager fee equal to 1/365^th of 0.10% of NAV per share for Class I shares each day.  This expense is allocated to Class I stockholders and reduces the dividend otherwise payable to Class I stockholders.

⁴ Net Asset Value (“NAV”).  NAV and related yield calculations are as of the final trading day of the related quarter.

About Dividend Capital Diversified Property Fund

Dividend Capital Diversified Property Fund is a public reporting, NAV vehicle based in Denver, CO that invests in a diversified portfolio of commercial real estate assets. DPF owned 55 properties totaling approximately 9.0 million square feet in 20 geographic markets as of March 31, 2017. More information is available at www.dividendcapitaldiversified.com.

Forward-Looking Information

This material may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “expect(s),” “could,” “should,” and “continue” and similar statements are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results that are materially different than those described in the forward-looking statements. Dividend Capital Diversified Property Fund cannot give assurance that its expectations will be attained. Factors that could cause actual results to differ materially from Dividend Capital Diversified Property Fund’s expectations include, but are not limited to, 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, 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 Company’s Annual Report on Form 10-K. 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 the Company’s expectations with regard thereto or change in events, conditions, or circumstances on which any statement is based.