RMR Funds today announced that the following funds, which have historically paid monthly distributions, will suspend distributions to common shareholders in October 2008 and until further notice: RMR Real Estate Fund (AMEX: RMR) RMR Hospitality and Real Estate Fund (AMEX: RHR) RMR F.I.R.E. Fund (AMEX: RFR) RMR Preferred Dividend Fund (AMEX: RDR) RMR Dividend Capture Fund (AMEX: RCR) Each of these funds use leverage by issuing auction rate preferred shares. The terms of these auction rate preferred shares prohibit the payment of distributions to common shareholders unless certain financial ratios exist. The recent volatility and declines in the market prices of securities in which each of these funds invests, particularly the prices of common and preferred shares of real estate investment trusts (REITs), have caused each of these funds to not meet the asset coverage ratios which are pre-conditions to the payment of common share distributions. A primary investment objective of each of these funds is to earn income, and these funds are continuing to earn income on their investments. In order to meet the asset coverage ratios which are pre-conditions to the payment of common share distributions, the funds may need to reduce their leverage by selling investment securities and redeeming preferred shares. In an effort to avoid selling securities at distressed prices immediately and to preserve their ability to meet long term investment objectives, each fund is suspending its distributions to common shareholders to allow for a more orderly repositioning of each fund�s investment portfolio as needed to satisfy the required asset coverage ratios. Each fund may resume common share distributions when its asset coverage ratios are satisfied; however, the amount and frequency of any common share distributions which may be declared in the future can not be determined at this time. Each fund is a closed end investment company advised by RMR Advisors, Inc., an affiliate of Reit Management & Research LLC. Reit Management & Research LLC and its affiliates have been in business since 1986.
Grafico Azioni Rmr Div Cptre FD Common Shrs (AMEX:RCR)
Storico
Da Mag 2024 a Giu 2024 Clicca qui per i Grafici di Rmr Div Cptre FD Common Shrs
Grafico Azioni Rmr Div Cptre FD Common Shrs (AMEX:RCR)
Storico
Da Giu 2023 a Giu 2024 Clicca qui per i Grafici di Rmr Div Cptre FD Common Shrs