NEW
YORK, Dec. 8, 2023 /PRNewswire/ -- Net
Lease Office Properties (NYSE: NLOP) declared a common share
dividend of $0.34 per share
(approximately $5.0 million in the
aggregate). The dividend is payable on or about January 29, 2024 to shareholders of record as of
the close of business on December 18,
2023 (the "Record Date"). This will allow NLOP to comply
with the annual distribution requirements applicable to real estate
investment trusts under the U.S. Internal Revenue Code of 1986, as
amended, while retaining capital and enhancing NLOP's financial
flexibility.
In accordance with relevant IRS guidelines, shareholders may
make an election to receive their dividend in the form of either
all cash or all NLOP shares. The aggregate amount of cash to be
distributed by NLOP will be limited to a maximum of 20% of the
total dividend. Shareholders who do not make an election will be
deemed to have elected to receive their dividend in all shares. To
the extent that more than 20% cash is elected, the excess cash
elections will be prorated.
The value of the shares distributed in the dividend will be
based upon the volume weighted average trading prices of NLOP's
common shares on the New York Stock Exchange between January 18, 2024 and January 19, 2024. Fractional shares will not be
issued; shareholders who would otherwise be entitled to receive
fractional shares will receive a cash payment in lieu of fractional
shares. NLOP expects the dividend to be taxable to shareholders.
Election forms are expected to be mailed to shareholders promptly
after the Record Date. Elections for registered holders must be
received by NLOP's transfer agent, Computershare Trust Company,
N.A., by 5:00 p.m. ET on January 17, 2024.
If you have any questions regarding the election form or the
election deadline, please call Georgeson, the Information Agent for
the election, toll free at 1-888-275-0751 or 1-502-219-6101 for non
U.S. shareholders. If your shares are held through a bank, broker
or nominee, and you have questions regarding the dividend election,
please contact such bank, broker or nominee, who will also be
responsible for distributing the election form to you and
submitting the completed election form on your behalf.
Net Lease Office Properties
Net Lease Office Properties (NYSE: NLOP) is a publicly traded
real estate investment trust that owns a portfolio of high-quality
office properties primarily leased to corporate tenants on a
single-tenant net lease basis. Tenants operate across a variety of
industries and the vast majority of properties are located in the
U.S., with the balance located in Europe.
www.nloproperties.com
Institutional
Investors:
1-212-492-1140
institutionalir@nloproperties.com
Individual
Investors:
1-844-NLO REIT
(656-7348)
ir@nloproperties.com
Press Contact:
Anna McGrath
1 (212)
492-1166
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SOURCE Net Lease Office Properties