Carey Diversified LLC Declares Fourth Quarter 1999 Dividend
NEW YORK, NY – November 30, 1999 – Carey Diversified LLC (NYSE:CDC), announced its Board of Directors has declared a quarterly cash dividend of $0.4175 per common share (on an annualized basis, $1.67 per share), an increase over last year’s rate of $0.4125 and its fourth quarterly dividend this year at the same rate. The dividend will be payable on January 15, 2000 to shareholders of record on December 15, 1999. Since the Company became public in January 1998, approximately $84 million has been paid out in dividends to shareholders.
In announcing the dividend, Francis J. Carey, Chairman and Chief Executive Officer of Carey Diversified, commented, "With this, our fourth dividend of the year, we continue to provide stable income for our investors. We are positive about the real estate market in general, and continue to look for sound investment opportunities that will allow us to deliver prudent growth for Carey Diversified's shareholders."
Carey Diversified LLC, a member of the $2.5 billion W. P. Carey Group, is the largest limited liability company traded on the New York Stock Exchange. The company's portfolio consists of 210 properties totaling more than 20 million square feet. Carey Diversified leases properties to manufacturing, technology, retailing and communications companies including Federal Express Corp., America West Airlines, Detroit Diesel, Dr Pepper Bottling Company of Texas, Wal-Mart, AT&T, The Gap and more than 70 others. Additional information about Carey Diversified LLC is available on the company's website: www.careydiv.com.
This press release contains forward-looking statements within the meaning of the Federal securities laws. A number of factors could cause the company's actual results, performance or achievement to differ materially from those anticipated. Among those risks, trends and uncertainties are the general economic climate; the supply of and demand for office and industrial properties; interest rate levels; the availability of financing; and other risks associated with the acquisition and ownership of properties, including risks that the tenants will not pay rent, or that costs may be greater than anticipated. For further information on factors that could impact the company, reference is made to the company's filings with the Securities and Exchange Commission.
