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Investors Real Estate Trust Announces Increase in Regular Quarterly Common Share Distribution, and Declares Series A Preferred Share Distribution
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MINOT, ND -- (Marketwire) -- 11/19/08 -- Investors Real Estate Trust (NASDAQ: IRET)(NASDAQ: IRETP) announced today that its Board of Trustees has declared aregular quarterly distribution of 16.95 cents per share/unit payable onJanuary 14, 2009, to common shareholders and unitholders of record at theclose of business on January 2, 2009. The distribution reinvestment pricewill be the closing NASDAQ share price on January 14, 2009, less a discountof 5%. The Company has filed a registration statement with the Securitiesand Exchange Commission to register the number of common shares necessaryto meet distribution reinvestment elections.
This 16.95 cents per common share/unit distribution represents the 151stconsecutive quarterly distribution paid by IRET since its inception in1970, and represents an increase of .05 cents or .3% over the previousregular quarterly distribution of 16.90 cents per common share/unit paidOctober 1, 2008.
Investors Real Estate Trust's Board of Trustees also declared today adistribution of 51.56 cents per share on the Company's Series A CumulativeRedeemable Preferred Shares (NASDAQ: IRETP). This distribution will bepayable December 31, 2008, to Series A preferred shareholders of record onDecember 15, 2008.
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investmenttrust. Its business consists of owning and operating income-producingmulti-family residential and commercial properties located primarily in theupper Midwest states of Minnesota and North Dakota. Investors Real EstateTrust is based in Minot, North Dakota, and has additional offices inMinneapolis, Minnesota and Omaha, Nebraska.
CONTACT INFOMichelle R. SaariPO Box 198812 Main Street SMinot, North Dakota 58701phone: 701.837.4738fax: 701.838.7785email: msaari@iret.com
Investors Real Estate Trust's Board of Trustees also declared today adistribution of 51.56 cents per share on the Company's Series A CumulativeRedeemable Preferred Shares (NASDAQ: IRETP). This distribution will bepayable December 31, 2008, to Series A preferred shareholders of record onDecember 15, 2008.
About Investors Real Estate Trust
Investors Real Estate Trust is a self-advised equity real estate investmenttrust. Its business consists of owning and operating income-producingmulti-family residential and commercial properties located primarily in theupper Midwest states of Minnesota and North Dakota. Investors Real EstateTrust is based in Minot, North Dakota, and has additional offices inMinneapolis, Minnesota and Omaha, Nebraska.
CONTACT INFOMichelle R. SaariPO Box 198812 Main Street SMinot, North Dakota 58701phone: 701.837.4738fax: 701.838.7785email: msaari@iret.com
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