Tremont Mortgage Trust (Nasdaq: TRMT) today announced a one-time cash distribution on its common shares of $0.53 per common share. TRMT’s Board of Trustees has declared this distribution in order to pay out sufficient taxable income to maintain TRMT’s tax status as a real estate investment trust. The distribution declared today will be paid to TRMT’s common shareholders of record as of the close of business on December 17, 2020 and distributed on or about January 15, 2021. Including this special dividend, TRMT will have paid or declared $0.78 per common share during 2020.
Tremont Mortgage Trust (Nasdaq: TRMT) is a real estate finance company that focuses primarily on originating and investing in first mortgage loans secured by middle market and transitional commercial real estate. TRMT is managed by Tremont Realty Advisors LLC, an SEC registered investment adviser and an indirect subsidiary of The RMR Group Inc.
WARNING REGARDING 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 TRMT’s present 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 TRMT’s control. For example:
This press release states that TRMT will pay a one-time cash distribution of $0.53 per common share. TRMT’s distributions and distribution rate are set from time to time by its Board of Trustees. The timing, amount, and form of future distributions will be determined at the discretion of TRMT’s Board of Trustees and will depend upon various factors that its Board of Trustees deems relevant, including TRMT’s historical and projected income, its Core Earnings, the then-current and expected needs and availability of cash to pay its obligations and fund its investments, distributions which may be required to be paid to maintain TRMT’s qualification for taxation as a real estate investment trust, limitations on distributions contained in TRMT’s financing arrangements and other factors deemed relevant by TRMT’s Board of Trustees, in its discretion.
The information contained in TRMT’s filings with the SEC, including under "Risk Factors" in TRMT’s periodic reports or incorporated therein, identifies other important factors that could cause TRMT’s actual results to differ materially from those stated in or implied by TRMT’s forward looking statements. TRMT’s filings with the SEC are available on the SEC’s website at www.sec.gov.
You should not place undue reliance upon forward looking statements.
Except as required by law, TRMT 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, Manager, Investor Relations