Seven Hills Realty Trust Raises Quarterly Dividend on Common Shares by 40% to $0.35 Per Share or $1.40 Per Share Per Year
NEWTON, Mass., January 12, 2023--(BUSINESS WIRE)--Seven Hills Realty Trust (Nasdaq: SEVN) today announced it has raised its quarterly cash distribution on its common shares by $0.10 per share, or 40%, to $0.35 per share ($1.40 per share per year). The distribution declared today will be paid to SEVN’s common shareholders of record as of the close of business on January 23, 2023 and distributed on or about February 16, 2023.
About Seven Hills Realty Trust
Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate finance company that originates and invests in first mortgage loans secured by middle market and transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $37 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit www.sevnreit.com.
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. These forward-looking statements are based upon SEVN’s present intent, beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and may not occur for various reasons, some of which are beyond SEVN’s control.
For example, this press release states that SEVN’s quarterly cash distribution rate is $0.35 per share per quarter or $1.40 per share per year. A possible implication of this statement is that SEVN will continue to pay quarterly distributions of $0.35 per share or $1.40 per share per year in the future. SEVN’s Board of Trustees considers many factors when setting or resetting SEVN’s distribution rate, including SEVN’s historical and projected income, Distributable Earnings, Distributable Earnings per share, Adjusted Distributable Earnings, Adjusted Distributable Earnings per share, the then current and expected needs and availability of cash to pay SEVN's obligations and fund its investments, distributions which may be required to be paid by SEVN to maintain SEVN’s qualification for taxation as a real estate investment trust and other factors deemed relevant by SEVN's Board of Trustees in its discretion. Accordingly, any future distributions to SEVN’s shareholders may be increased, decreased, suspended or discontinued, and SEVN cannot be sure as to the rate at which future distributions, if any, will be paid.
You should not place undue reliance upon forward-looking statements.
Except as required by law, SEVN does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Kevin Barry, Director, Investor Relations