Corporate Property Associates 12 Increases Quarterly Dividend
NEW YORK, NY – June 14, 2000 – Corporate Property Associates 12 (CPA®:12), an affiliate of W. P. Carey & Co. LLC, announced that its Board of Directors has approved the second quarter dividend for this public REIT.
The dividend for the quarter ended June 30, 2000 payable July 15, 2000 to shareholders of record as of June 30 rose to $20.43 per 100 shares. This is the Company's 25th consecutive quarterly dividend increase.
Chairman Wm. Polk Carey commented, "Through our proven management strategy, we have been able to maximize total returns for CPA®:12 investors by regularly increasing current dividends. This strategy provides our investors with a consistent, stable and growing long-term investment, and can help balance their investment portfolios. This is increasingly important given today's market volatility."
Founded in 1973, W. P. Carey & Co. LLC, a leader in the ownership and net leasing of corporate properties, specializes in corporate real estate financing using the corporate net lease, or sale-leaseback structure. The $2.5 billion W. P. Carey Group, which includes the firm and its affiliates, is one of the largest lessors of net leased corporate real estate in the nation. The W. P. Carey Group manages the largest publicly traded limited liability company listed on the New York Stock Exchange and four real estate investment trusts (REITs). Collectively, Carey manages over 38 million square feet of property located in the United States and Europe leased to a diverse group of corporate tenants across the credit spectrum. CPA®:12 was created in 1994. More information on CPA®:12 can be found on www.cpa12.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.
