Industrial Logistics Properties Trust (ILPT) announced that its Board of Trustees has significantly increased its quarterly cash distribution on common shares. The dividend was raised from $0.01 per share to $0.05 per share, representing a 400% increase. This new distribution rate translates to $0.20 per share on an annualized basis.
The increased dividend will be paid on or about August 14, 2025, to shareholders of record as of the close of business on July 21, 2025. This decision follows the successful refinancing of $1.235 billion of floating rate debt into $1.16 billion of fixed rate debt completed in June. The refinancing is estimated to generate annual cash savings of $0.13 per share.
Tiffany Sy, Chief Financial Officer and Treasurer of ILPT, stated that the estimated annual cash savings from the refinancing and the elimination of interest rate cap requirements, combined with consistent portfolio performance, support the higher distribution rate. This increase reflects the Board's confidence in the company's sustained performance and its commitment to delivering long-term shareholder value.
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