IRET Announces Distributions for the 1st Quarter of Calendar Year 2020

MINOT, N.D., March 5, 2020 /PRNewswire/ -- IRET (NYSE: IRET) announced today that its Board of Trustees declared a regular quarterly distribution of $0.70 per share/unit, payable on April 9, 2020, to common shareholders and unitholders of record at the close of business on March 31, 2020.  IRET has paid cash dividends to common shareholders and unitholders every quarter since its initial dividend in 1971.

The Board of Trustees also declared a distribution of $0.4140625 per share on the 6.625% Series C Cumulative Redeemable Preferred Shares (NYSE: IRET PRC) payable on March 31, 2020, to holders of record at the close of business on March 16, 2020.  Series C preferred share distributions are cumulative and payable quarterly in arrears at an annual rate of $1.65625 per share.

About IRET
IRET is a real estate company focused on the ownership, management, acquisition, redevelopment, and development of apartment communities. As of December 31, 2019, we owned interests in 69 apartment communities consisting of 11,953 homes. IRET's common shares and Series C preferred shares are publicly traded on the New York Stock Exchange (NYSE symbols: "IRET" and "IRET PRC," respectively). IRET's press releases and supplemental information are available on its website at www.iretapartments.com or by calling Investor Relations at 701-837-7104.

Contact Information
Jonathan Bishop
Vice President – Finance
Phone: 701-837-7104
E-mail: IR@iret.com

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SOURCE IRET