Capital Automotive Declares Quarterly Preferred Share Dividends
12 Ottobre 2004 - 3:30PM
PR Newswire (US)
Capital Automotive Declares Quarterly Preferred Share Dividends
MCLEAN, Va., Oct. 12 /PRNewswire-FirstCall/ -- Capital Automotive
REIT (NASDAQ:CARS), the nation's leading specialty finance company
for automotive retail real estate, today announced that its Board
of Trustees has declared a dividend for the period commencing
August 1, 2004 and ending October 31, 2004 of $0.46875 per Series A
Cumulative Redeemable Preferred Share of beneficial interest of the
Company, payable on November 15, 2004 to shareholders of record as
of November 1, 2004. On an annualized basis, this payment
represents a 7.5% yield based on Friday's closing stock price. The
Board of Trustees has also declared a dividend for the period
commencing August 1, 2004 and ending October 31, 2004 of $0.50 per
Series B Cumulative Redeemable Preferred Share of beneficial
interest of the Company, payable on November 15, 2004 to
shareholders of record as of November 1, 2004. On an annualized
basis, this payment represents a 7.6% yield based on Friday's
closing stock price. About Capital Automotive Capital Automotive,
headquartered in McLean, Virginia, is a self- administered,
self-managed real estate investment trust that acquires real
property and improvements used by operators of multi-site,
multi-franchised automotive dealerships and related businesses.
Additional information on Capital Automotive is available on the
Company's Website at http://www.capitalautomotive.com/. Certain
matters discussed within this press release are forward-looking
statements within the meaning of the federal securities laws.
Although the Company believes that the expectations reflected in
the forward-looking statements are based upon reasonable
assumptions, the Company's future operations will depend on a
number of factors that may differ, some materially, from the
Company's assumptions. These factors, which could cause the
Company's actual results to differ materially from those set forth
in the forward-looking statements, include risks that our tenants
will not pay rent; risks related to our reliance on a small number
of tenants for a significant portion of our revenue; risks of
financing, such as increases in interest rates, our ability to meet
existing financial covenants and to consummate planned and
additional financings on terms that are acceptable to us; risks
that our growth will be limited if we cannot obtain additional
capital; risks that planned and additional acquisitions may not be
consummated; risks related to the automotive industry, such as the
ability of our tenants to compete effectively in the automotive
retail industry and the ability of our tenants to perform their
lease obligations as a result of changes in any manufacturer's
production, supply, vehicle financing, incentives, warranty
programs, marketing or other practices or changes in the economy
generally; risks generally incident to the ownership of real
property, including adverse changes in economic conditions, changes
in the investment climate for real estate, changes in real estate
taxes and other operating expenses, adverse changes in governmental
rules and fiscal policies and the relative illiquidity of real
estate; environmental and other risks associated with the
acquisition and leasing of automotive properties; risks related to
our status as a REIT for federal income tax purposes, such as the
existence of complex regulations relating to our status as a REIT,
the effect of future changes in REIT requirements as a result of
new legislation and the adverse consequences of the failure to
qualify as a REIT; and those risks detailed from time to time in
the Company's SEC reports, including its Form 8-K/A filed on March
12, 2004, its annual report on Form 10-K and its quarterly reports
on Form 10-Q. The Company makes no promise to update any of the
forward-looking statements. Contact Information David S. Kay Senior
Vice President, Chief Financial Officer and Treasurer Capital
Automotive REIT 703.394.1302 DATASOURCE: Capital Automotive REIT
CONTACT: David S. Kay, Senior Vice President, Chief Financial
Officer and Treasurer of Capital Automotive REIT, +1-703-394-1302
Web site: http://www.capitalautomotive.com/
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