NEW YORK, Sept. 19, 2013 /PRNewswire/ -- W. P. Carey Inc. (NYSE: WPC) reported today that its Board of Directors had increased its quarterly cash dividend to $0.86 per share, which equates to an annualized rate of $3.44. Payable on October 15, 2013 to stockholders of record as of September 30, 2013, this marks the Company's 50th consecutive dividend increase.
W. P. Carey President and CEO Trevor Bond, noted, "Our 50th consecutive quarterly dividend increase marks an important milestone for W. P. Carey and once again demonstrates our commitment to providing attractive risk-adjusted returns to our stockholders. Since going public 15 years ago, our established investment strategy has allowed us to continue to generate steady cash flow and increase our dividend throughout a range of economic cycles, including the most recent financial crisis. At the same time, by capitalizing on our core competencies in the areas of sophisticated deal structuring, rigorous credit analysis and evaluation of real estate markets, we have been able to grow our portfolio and expand into global markets. Providing our investors a steady cash flow and increasing dividends during good times and bad was a core mission of Bill Carey's when he founded W. P. Carey 40 years ago – a mission we continue to follow and in which we take great pride."
W. P. Carey Inc. Celebrating its 40th anniversary, W. P. Carey Inc. is a publicly traded REIT (NYSE: WPC) that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totaling approximately $15.4 billion. The largest owner/manager of net lease assets, WPC's corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Its portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows that have enabled WPC to deliver consistent and rising dividend income to investors for nearly four decades. www.wpcarey.com
This press release contains forward-looking statements within the meaning of the Federal securities laws. The statements of Mr. Bond are examples of forward looking statements. 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.
SOURCE W. P. Carey Inc.